N.I at the same time as tax??

[Demonjill]

Now....

I think I understand that because I only started minding in November 2011 that I will not be paying any tax until 2013!!

but....

What about national insurance ? does that wait until the same financial year or does that start as soon as i am self employed?

Im confused and glass of wine has not helped:blush:

[christine e]

This should explain everything about class 2 and class 4 contributions

http://www.hmrc.gov.uk/working/intro/selfemployed.htm#3

anything you don't understand come back and will explain

Cx

[Demonjill]

This should explain everything about class 2 and class 4 contributions

http://www.hmrc.gov.uk/working/intro/selfemployed.htm#3

anything you don't understand come back and will explain

Cx

thanks but unless im being silly:blush: - that still doesnt answer my question above..

[CH1957]

Now....

I think I understand that because I only started minding in November 2011 that I will not be paying any tax until 2013!!

but....

What about national insurance ? does that wait until the same financial year or does that start as soon as i am self employed?

Im confused and glass of wine has not helped:blush:


I phoned the National Insurance helpline just to check on this as I wasnt sure either and couldnt find anything on their website. I started in September 2011 but only registered with HMRC in November, so like you I dont do my Tax Return until 2013.

They send out payment requests in October and April, so as I missed the October deadline they will send me a payment request in April, which will include anything due from the date you first registered as self employed. You dont need to worry about fines etc as they dont fine, so you should receive a payment request in April. You can either pay 6 monthly when you get their letter or you can set up a direct debit and pay monthly - form CA5601 which you can download from HMRC website.
HTH

[Chatterbox Childcare]

When you submit your tax return for 2011/12 you will be given a calculation and any tax and class 4 NI due will be due by 31st January 2013

Hope that helps

[christine e]

Bills for class 2 contributions are sent out April and Oct so you should get two this year - if you need to pay class 4 contributions that will be included with your tax bill and would be due for payment 31st Jan 2013

Cx