We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Class 2 National Insurance and PAYE
djcat
Posts: 77 Forumite
Good evening,
I registered for self assessment last year as I wanted to start an online side business. I got a letter from HMRC asking me to pay class 2 NICs but my business will not give me the £ 5725.00 a year after which I need to pay, plus I am employed full time and on PAYE.
My question:
Do I need to pay class 2 if I am on PAYE?
If I pay NICs through my employment, will I loose my rights if I do not contribute class 2 even if my business earnings are below the necessary threshold?
Many thanks for your help!
I registered for self assessment last year as I wanted to start an online side business. I got a letter from HMRC asking me to pay class 2 NICs but my business will not give me the £ 5725.00 a year after which I need to pay, plus I am employed full time and on PAYE.
My question:
Do I need to pay class 2 if I am on PAYE?
If I pay NICs through my employment, will I loose my rights if I do not contribute class 2 even if my business earnings are below the necessary threshold?
Many thanks for your help!
0
Comments
-
I got the same thing yesterday and called them. If, in your self-employed work, you earned less than the threshold, you go to their website and complete form CF10 to get a certificate of small earnings exception. You also have to send them an income statement showing your earnings for the last tax year. If you pay NI through your employment, this will not affect your entitlement to state benefits.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards