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Posted Tue, 22 Oct 2024 06:14:45 GMT by sebseb_88
If you’re both employed and self employed is there a reduction in class 2 NIC’s or weeks due? Currently filling my tax return and on the self employment history section even though the start date is “continuous” and end date is “ongoing” it is showing as my due amount is £82.80 when I’ve hit the recalculate button, which by my reckoning is only 24 weeks worth. Main job is employed PAYE so I’ve paid class 1 NIC’s too but would this reduce my liability for paying class 2 NICs for the full year for my self employed work?
Posted Fri, 25 Oct 2024 13:23:42 GMT by HMRC Admin 20 Response
Hi,
Because each individual has their own individual 'annual maximum' there is a formula used to calculate the maximum NICs a customer is required to pay in any one year.
The formula to calculate the annual maximum is laid down in legislation under Reg 21 of Social Security (Contributions) Regulations 2001 for Class 1 and/or Class 2 NICs combined and Reg 100 for Class 1 and Class 4 combined.
It is possible if you have paid a considerable amount of Class 1 (PAYE) NICs, then your Class 2 liability would be reduced.
If you want to have this checked, you will need to contact the NI helpline on 0300 200 3500. Lines are open 8am – 6pm Monday to Friday.
Thank you.

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