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NI for Self Employed

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Comments

  • That's direct from HMRC that both are registered at the same time, was this the case a few years ago?! Who knows!
  • There is a difference between registering for self-assessment and registering as self-employed. As I said, it’s only a possibility that only the former was done. 
  • Thanks, we'll do this today. Will that then prompt demand for payment as the return has already been filed? Just conscious about getting a fine for late payment!
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 25 January 2023 at 9:17AM
    Thanks, we'll do this today. Will that then prompt demand for payment as the return has already been filed? Just conscious about getting a fine for late payment!
    There is no fine for late payment on 31st January- a common myth! Interest will accrue though at the rate of 6% per annum and a one off 5% penalty will incur on any tax not paid by 28th February which relates to 2021/22. So, we are not talking huge figures here!

    You could, of course, pay now what you believe will ultimately be due anyway which will remain as a credit in your tax account.
  • So just to finish this thread off! My wife spoke to HMRC today who didn't have her down as self employed since 2019 because she didn't submit a tax return that year (under their advice!) 
    Its only come to light as NI hadn't never been due so though she's been submitting returns, even received a self employed grant they didn't think she was self employed.
    So the lady has amended that my wife is self employed and advised to check the return via the gateway in a few days where it'll update and the NI Class 2 will be showing as owing and can be paid.
    Thanks for all the help.
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