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Class 4 National insurance
aeuerby
Posts: 782 Forumite
in Cutting tax
I'm just filling in the tax return online and it is showing I have to pay class 4 national insurance.
Why is this when I have been paying my class 2 quarterly?
Why is this when I have been paying my class 2 quarterly?
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Comments
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Because Class 4 is based on your profit.Warning ..... I'm a peri-menopausal axe-wielding maniac
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Class 4 NI brings you in line with the amount of Ni employed people pay. If you were only to pay £2.20 a week EVERYONE0
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ooooooooooooopssss... continued... everyone would want to be self employed!!!0
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Class 4 NIC is just another tax It provides and counts for zero benefits.
All of HMRCs guidance when you first became self-employed would have mentioned Class 4 NIC so it should not be surprise; indeed a prudent thing to do would be to include this cost in your business plan.0 -
If you're profits are low, you don't have to pay class 4 - you can ask for a certificate of exception."There is a light that never goes out"0
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