I have children at home but don't have an exemption certificate? I pay Class 2 by DD each month (or standing order get those 2 mixed up)
So how do you get one then ?
Diane x
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Me too, I used to have an exemption certificate but hubby kept moaning that I wouldn't get a pension so I ended up paying class 2.
How do you check on your pension Sarah?
Back to tax bill, I've never paid tax and don't intend to either. I'll keep my numbers down if need be
Carol xx
Class 4 is not compulsory until you make a profit.
You can get an exemption from NI but I believe Class 4 will be paid as above.
To secure a contribution towards your pension and get maternity and sickness benefits you would need to pay voluntary class 2 which is approximately £8-£11 per month.
Hope that helps
Debbie
This is information about home responsibilities protection...
http://www.direct.gov.uk/en/MoneyTax...ne/DG_10018691
This is information about how to get a state pension forecast...
http://www.thepensionservice.gov.uk/...ecast/home.asp
Like I said, they try to panic you, saying if you don't pay NI you might not get a full pension... but when I checked mine was fine :D
Thats the other thing I had thought about, using an accountant, I usually do it myself and have put through everything I can think of, but it might be worth getting a professional to do it.
I do pay Class 2 NI by DD, but of course extra was added because I was over the allowance.
Still deciding whether to try and cut down on numbers. Hubby away at mo so will chat to him about it when he gets back, there doesn't seem much point being kna*****d every night to hand the money over to the good old Inland Revenue :D
oops answered it twice - sorry!
Another bit of info is that when you have a child (up to the age of 21 for the first time) the govenment classes you as at home and those 21 years goes towards your pension. You can get hold of the pension office and they will send you a present and current forcase of your pension. Haven't got the number to hand but it was on the Inland Rev website.
I did my class 2 in case of illness as we had a childminder in our area that was off long term sick and she was able to claim - makes you think!
Debbie
Its def worth doing class 2 ni as when I had dd #2 I claimed maternity allowance which worked out at approx £80 a week - better than a kick in the teeth!
Mel
Back original question and it could be tax for next year. my cousins OH is a self employed plumber and has been asked to do this so he has to find an extra £2500. we were talking about it only this weekend.
Odd...I thought I had replied to this but my message isnt there.
Anyway! I feel your pain. I got a rebate last year so I didnt bother putting anything away...this year - £2500 bill with an extra £800 to pay "on account". (Is that a new thing???). I cried my eyes out when I got the bill!!
So this year i sent mine off to an accountant, i earned roughly the same as last yr and had put a similar amount through in expenses, but in stead of having a £1200 tax bill, i had a £70 bill for accountant and no tax to pay!!!!!!
Lou - really? How did they do that??? Also - can I have your accountants number!! :idea:
Sx
:doh: Okay, Im officially going mad...I had posted on another thread. Gah! Luckily they are very similar threads!
Sx
You can have an exemption of Class 2 NI which is voluntary but my understanding is that it you make a profit over the £6035 allowance you automatically get charged Class 4 based on the amount.
Debbie
its always worth putting some cash away if you dont have to pay tax then its a nice bonus :)
I have been registered since Jan of this year. I am worried as I haven't had a tax return yet do I get one for the first year. Help I need advice!!!!
yes I told them within in 3 weeks of Childminding I informed them online
I cant believe how much some of you have had to pay :eek: I dont know how i would find that x Ive been a chiildminder for 5 years now and never had to pay tax x I think i might start putting some away just in cas though x