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National Insurance as Self-Employed + New job
afm_2
Posts: 698 Forumite
Hiya,
I have posted this yesterday on another part of this forum but didn't get many replies. I hope it is ok to post it here as well.
I have registered as self-employed about 18months ago so that I could do these mystery shopping assignments. Since I registered, I have paid monthly class 2 (voluntary) national insurance contributions.
I have started a new job yesterday (part-time) as employed by someone. I will certainly be paying National Insurance with this job so I am not sure if I should still pay the class 2 contributions.
I have paid class 2 contributions (mostly) because of security in case I had a baby. So, my questions are:
1. Can I keep paying class 2 contributions as self-employed whilst being employed?
2. Should I pay? Do I get any extra benefits for doing so?
3. If I stop paying class 2 contributions and only keep the NI contributions from my new job, when would I be entitled to MA?
4. How is MA calculated? What is the period of time that one can claim MA?
Thank you!
I have posted this yesterday on another part of this forum but didn't get many replies. I hope it is ok to post it here as well.
I have registered as self-employed about 18months ago so that I could do these mystery shopping assignments. Since I registered, I have paid monthly class 2 (voluntary) national insurance contributions.
I have started a new job yesterday (part-time) as employed by someone. I will certainly be paying National Insurance with this job so I am not sure if I should still pay the class 2 contributions.
I have paid class 2 contributions (mostly) because of security in case I had a baby. So, my questions are:
1. Can I keep paying class 2 contributions as self-employed whilst being employed?
2. Should I pay? Do I get any extra benefits for doing so?
3. If I stop paying class 2 contributions and only keep the NI contributions from my new job, when would I be entitled to MA?
4. How is MA calculated? What is the period of time that one can claim MA?
Thank you!
Goal: Win a car (or cash to buy one 
)! -- Haha goal from when I was a student. Never actually won this but got a good job instead.
What I achieved:
Car paid in full straightaway.
Two properties fully paid. Wohhoooo!
)! -- Haha goal from when I was a student. Never actually won this but got a good job instead.What I achieved:
Car paid in full straightaway.
Two properties fully paid. Wohhoooo!
0
Comments
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If you start paying NI class 1 contributions with your new job, you won't have to pay class 2 aswell. However, if you get a class 2 bill you should pay it and then the NI office will send you a letter saying that you have paid class 2 contributions and you are entitled to a refund which they will offset against future class 2 liability (i.e. - you won't get any money back).
I don't know anything about MA.0 -
Thank you toomuchinfo!
Anyone knows about MA?Goal: Win a car (or cash to buy one)! -- Haha goal from when I was a student. Never actually won this but got a good job instead.
What I achieved:
Car paid in full straightaway.
Two properties fully paid. Wohhoooo!0
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