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#1 03-05-06 13:08:33

New Girl
Verified Member
From: Somerset
Registered: 25-07-05
Posts: 524

National Insurance low earnings excemption certificate

As advised by the IR, when I took a course on being self employed I applied for one of the above.  However, I was expecting a little more info about what to do if I start to earn more than the £4600 (rough figure). Can anyone help me out on this?

Also, I'm still employed part-time and paying NI on those earnings.  Does that bare any effect whatsoever?

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03-05-06 13:08:33

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Re: National Insurance low earnings excemption certificate



#2 03-05-06 13:35:40

Panjandrumbuilder
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Re: National Insurance low earnings excemption certificate

Think you should have a chat with your local Tax Office. Give them the facts and they will be able to advise you better than anyone on here.


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#3 04-05-06 08:48:42

Colin Martin
Verified Member
From: Southsea
Registered: 21-01-05
Posts: 2,465
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Re: National Insurance low earnings excemption certificate

Hi New Girl,

Not quite sure of your question but as a self employed person you should be paying your weekly NI every 4/5 weeks by direct debit. Then when you do your tax return the IR calculate what they call "class 4" based on your earnings. You pay this when you pay your tax bill.

The little I know about exemption certificates is: it is great if you are really short of money but by using one it can affect your pension and any benefits if you ever have to claim. So if you can start to pay your weekly NI.


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#4 08-05-06 17:56:26

Morgan
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Registered: 10-06-05
Posts: 202

Re: National Insurance low earnings excemption certificate

Recently asked my local tax office very same question as was not sure how to play it as working on a pink for 6 months would have kept me under the threshold, but if I passed and continued to work would then go over.

Basically they said you can either pay from day one and if you stay under during the current tax year, claim the money back, or if you claim exemption and then go over you have to pay the arrears, I forgot to ask if that was in a lump sum immediately, but assume it would be.

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#5 08-05-06 18:14:13

New Girl
Verified Member
From: Somerset
Registered: 25-07-05
Posts: 524

Re: National Insurance low earnings excemption certificate

Yeah - I have been putting the money aside just in case, but think I may as well just start paying it as I'm definately going to go over.

Thanks for all the advice wink

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#6 08-05-06 18:58:11

craigMarks
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From: watford, Hertfordshire
Registered: 21-02-06
Posts: 94

Re: National Insurance low earnings excemption certificate

i used to work employed full time, self-employed part time,
you just add all your incomes together on the tax return and write down what tax you've already paid so they can work out what tax you need to pay, on all earnings.

Keep all pay slips

you will see what i mean on your tax return


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