The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> NI Help
Post Info TOPIC: NI Help
Eilef


Senior Member

Status: Offline
Posts: 214
Date:
NI Help
Permalink Closed

I work part time in a bingo hall paying tax and NI through PAYE.

I am also registered Self employed as I run a ghost hunting business as an LLP, soon to be running my own bookkeeping business as well.

 

however I recived in the post today a bill from HMRC for class 2 NI, I haven't filled in a tax return yet as only registered 1st feb this year.

we haven't made any money and I fact I'm out of pocket by £2000 in setting up alone but now have an NI bill to pay.

is this right? Or do I have to pay it and get it back through my tax retur?

 

 



__________________

Kind Regards

 

Eilef Loken MIAB

 
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Class 2 NI is not related to turnover. It is a set weekly figure that you pay six monthly regardless unless you have a dispensation not to pay it.

You can obtain a certificate of exemption if your relevant earnings (those earnings not coming under class 1) are below £5885 (FA14).

Exemption is not automatic and must be applied for.

Apply in writing to :

HM Revenue & Customs
National Insurance Contributions Office
Self Employment Services
Benton Park View
Newcastle Upon Tyne
NE98 1ZZ

using form CF10.

kind regards,

Shaun.



__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Eilef


Senior Member

Status: Offline
Posts: 214
Date:
Permalink Closed

Thanks Shaun

I knew it was £2.75 a week but I always thought it was worked off your SA but clearly not.

Thanks for your help.



__________________

Kind Regards

 

Eilef Loken MIAB

 
matt123


Senior Member

Status: Offline
Posts: 319
Date:
Permalink Closed

I think I've read that they are doing away with the monthly approach to NI. Cant remember when it comes into effect though.

__________________

Matthew
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Hi Matt,

that was first announced in the 2014 budget stating that from April 2016 class 2 contributions will be collected via self assessment. However, we're still stuck with six monthly payments at the moment.

all the best,

Shaun.

__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
matt123


Senior Member

Status: Offline
Posts: 319
Date:
Permalink Closed

Ahh I knew I hadn't dreamt it!

__________________

Matthew
Eilef


Senior Member

Status: Offline
Posts: 214
Date:
Permalink Closed

Hey Shaun,

Did i read right that in a partnership the company agreement can allow for the paying of this?

Im sure i have read it somewhere, but i always thought it was a personal bill and couldn't be paid for by the company.

cheers


__________________

Kind Regards

 

Eilef Loken MIAB

 
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> NI Help
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About