Self Employed Tax Explained
Self-employment taxes can be daunting! But what exactly do you need to pay? Read this guide to learn more about self employed tax!
National Insurance
National insurance rates and thresholds the UK self-employed, freelancers and sole traders
National Insurance Rates
The type of national insurance payable depends on employment status. Here is a summary of the different types of National Insurance and who needs to pay them
How to Get a National Insurance Number
Getting a national insurance number entitles you to not just work in the UK but also the right to claim certain state benefits. Here’s how to apply.
National Insurance
National Insurance is a type of HMRC tax where workers (whether employed or self-employed) pay into a ‘pot’ which then entitles them to certain state benefits
HMRC Annual Maximum for National Insurance Contributions
When you are employed and self-employed you’ll pay Class 1, Class 2 and Class 4 national insurance. That can add up, especially if you have substantial earnings. HMRC sets out a maximum amount every tax year of national insurance that you need to pay. Here’s how to check if you are overpaying and how you can get a refund.
Should I Pay Class 2 NICs Voluntarily?
Depending on your profits from self-employment you may not need to pay Class 2 National Insurance. But you do have the option to pay it voluntarily. So why would anyone pay something they don’t have to? Let’s look at why.
What is a National Insurance Number
Your national insurance number is an important piece of information that you’ll keep with you all your life. It gives you the right to work in the UK and the ability to claim state benefits. Here’s everything you need to know about it, why you have one and where to find it.
P11d Private Medical Insurance Form Section I
P11d Private Medical Insurance Form Section I covers the cost of medical and dental insurance paid for on behalf of employee or director.
Using Self-Employment Losses Against Class 4 National Insurance
If you are self-employed and your business makes a loss, then you should make a note and use this to your advantage in future years. Here’s How.