When to Check your Self Employed National Insurance Contributions
Mon, 08 Mar 2010 15:53:00
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For both the tax year ending on 5 April 2010 and the next year to 5 April 2011 the small earnings limit for exception from payment of the Class 2 “self employed stamp” is £5,075. If your self employed earnings have reduced you should check your position as you may now be eligible to claim exception from the weekly payment, or even a refund of overpaid contributions. Alternatively, you may already have been granted a three year exception but if your self employed income has then increased that may no longer be appropriate and you should contact HMRC to start paying class 2, this will avoid you building up arrears of contributions that have to be paid at a later date.  |
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