Folksy Ltd

Class 4 NIC, so confused


(Grimm Exhibition) #1

In a nutshell, help!
Im completeing my SA form, thinking Id finally got to grips with it.
I started paying class 2 NIC a few months back but now im all confused about class 4 NIC as theres a question about it.
Depending on where I look (HMRC website)it gives no info re what kind of money I need to make beofre having to pay, in the SA notes it says if you earn £7000+(ish) you may need to pay.
Does anybody have any easy to understand info.


(Ali Joyce) #2

Hi
You and me both really, but I have a number for you to call!! The number for Self Employment Services at HMRC is 03000 553 568. Funnily enough I did my tax return on Monday so I feel your pain, because mine involves employment, and two businesses. If you give that number a call they are really helpful and can confirm the position for you about NI contributions. Hope that helps
Ali x


(Grimm Exhibition) #3

Thanks for the reply. i think Ive found info which means I dont have to pay (low profit) plus it says they will work it out of i need to pay or not(in the notes)