Paying NI when employed and self employed

[Valencia]

I registered in May this year and started minding the following month. I had a child for a fortnight and then nothing until late August.

At the same time for the whole of 2012 I am on maternity leave and receive SMP where they also take NI.

Should I be putting away another set of NI even though it is being taken each month via my employer? I plan on resigning at the end of the year.

[MrAnchovy]

It sounds like your profit for 2012/13 (i.e. up to the end of March 2013) is going to be fairly low, however you must register as self employed and it sounds like you haven't. Don't worry though, you can register now and there won't be any penalty. You can do it here.

If your childminding profit for 2012/13 is going to be less than £5,595 you don't have to pay any National Insurance; you will need to fill in this form to claim exemption. However once your SMP ends you won't be getting credit towards the basic state pension or eligibility for Maternity Allowance or some other benefits so make sure you notify HMRC when your SMP ends that your earnings have increased and you need to start paying Class 2 National Insurance (it is only £2.65 a week at the moment: it will go up a small amount in November).

Note that you will have to pay Income Tax on your total earnings including SMP and childminding profit. You will need to fill in a tax return after April 2013 and will have to pay any tax outstanding by 31 January 2014.

[Valencia]

It sounds like your profit for 2012/13 (i.e. up to the end of March 2013) is going to be fairly low, however you must register as self employed and it sounds like you haven't. Don't worry though, you can register now and there won't be any penalty. You can do it here.

If your childminding profit for 2012/13 is going to be less than £5,595 you don't have to pay any National Insurance; you will need to fill in this form to claim exemption. However once your SMP ends you won't be getting credit towards the basic state pension or eligibility for Maternity Allowance or some other benefits so make sure you notify HMRC when your SMP ends that your earnings have increased and you need to start paying Class 2 National Insurance (it is only £2.65 a week at the moment: it will go up a small amount in November).

Note that you will have to pay Income Tax on your total earnings including SMP and childminding profit. You will need to fill in a tax return after April 2013 and will have to pay any tax outstanding by 31 January 2014.

Thanks Mr Anchovy. I have registered as self employed and have filled out the NI exemption form, so should be okay.

Thanks