HMRC self employment question

wambamjam

I've just registered on the HMRC site, I think I need to register for the low earnings /small earnings threshold - however does anyone know what happens if I end up earning more than the threshold? Do I have to inform HMRC, or does my application for the lower threshold automatically get discounted if I end up earning more than I anticipate?

amiehall

I have one of these atm and none of the paperwork that came with it makes any mention of what to do if you actually earn over the threshold. I would presume you had to tell them and set up a DD as the class 2 NI is dealt with outside of your SA, but it is odd that it doesn't spell this out. Maybe the certificate is valid provided your initial information was truthful. Hopefully someone can clarify soon.

I know any future application would not normally be allowed if your historic earnings are over the threshold (unless there is a reason your anticipated earnings are lower for that year)