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2nd yr self employed nics 4 question

duffs54
Posts: 131 Forumite

Hi
My first year self employed was just 1month march 2012, so that was easy but I am just doing my self assessment for 2012-2013 and it is talking about nics4.
My earnings are £15768
Expenses £3846
Its telling me that I need to pay nics now, but when I investigated it on HMRC website it said that in some cases I can stop my class 2 nics if I am paying the new nics 4 payments is this correct, do I just stop paying or advise them that I am stopping?
Ta lots
My first year self employed was just 1month march 2012, so that was easy but I am just doing my self assessment for 2012-2013 and it is talking about nics4.
My earnings are £15768
Expenses £3846
Its telling me that I need to pay nics now, but when I investigated it on HMRC website it said that in some cases I can stop my class 2 nics if I am paying the new nics 4 payments is this correct, do I just stop paying or advise them that I am stopping?
Ta lots
0
Comments
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Hi
My first year self employed was just 1month march 2012, so that was easy but I am just doing my self assessment for 2012-2013 and it is talking about nics4.
My earnings are £15768
Expenses £3846
Its telling me that I need to pay nics now, but when I investigated it on HMRC website it said that in some cases I can stop my class 2 nics if I am paying the new nics 4 payments is this correct, do I just stop paying or advise them that I am stopping?
Ta lots
Where does it say that, do you have a link? You pay both NIC2 and NIC4 if you are earning a certain level (which you are). I'm not aware you stop paying Class 2 at all given the numbers you've put there.' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0 -
oops sorry it was on here not the gov site, but I think her earnings are different
https://forums.moneysavingexpert.com/discussion/48423720 -
oops sorry it was on here not the gov site, but I think her earnings are different
https://forums.moneysavingexpert.com/discussion/4842372
The reason this poster was able to get exemption from class 2 NI was due to low self employed earnings, under £5725. Your self-employed earnings are far higher than this, and anyone having to pay class 4 will have earnings to high to get exemption from class 2.0 -
Thanks Chris0
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