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Should I pay class 2 NI or not?
seatbeltnoob
Posts: 1,413 Forumite
in Cutting tax
Hello, my sole trader profits 22/23 was around £9000. I also had PAYE income from my own ltd company of £3500.
The exact figures aren't relevant, suffice to say it was just below the tax free threshold. PAYE was paid from retained profits of the ltd co business just to mazimise the tax free allowance.
I have entered my self employed profits on self assessments and I'm cofused as to whether I should pay the class 2 NI or not.
There was a clarfying video here, which was linked from the hmrc self assessemnt site:
https://www.youtube.com/watch?v=yT5OiNUZzVE
https://www.youtube.com/watch?v=yT5OiNUZzVEThe video suggests I dont have to pay, But the self assessment website is give me a class 2 NIc amount of £163. So are they saying I should pay? The information the show isn't specifically for me, they just show information for all people on all scenarios for some reason.
Also I claim universal credit, and if I understand it correct. NI is automatically paid on my behalf?
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Comments
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No problems.
I got a bit confused here. The self assessment pages do not give specific information to your circumstance all the time. They just have a once for all response. I figured it out, basically what the video says. The feedback based on my entries were confusing.
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