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Posted Mon, 22 Jan 2024 20:36:24 GMT by
The income that I receive from my part time job places me under the tax threshold. However I also own a property that I rent out privately, that income alone also places me under the tax threshold. But when those two incomes are combined, my overall income is over the tax threshold. I have opted to pay tax yearly, based off the returns that I will submit, but I am unsure how to pay NI..is that money also taken/calculated when I submit my tax return?
Posted Thu, 25 Jan 2024 15:42:10 GMT by HMRC Admin 5 Response
Hi

Class 1 National insurance is only payable on employment income that exceeds the annual threshold.  
Class 2 and Class 4 NIC is deducted from the net profit of the self employed  and partners in a business that is not a limited company, where their threshold is exceeded.  
NIC is not payable on property income.  You could contact the NIC helpline on 0300 200 3500 (Open Monday to Friday: 8am to 6pm Closed on Saturdays, Sundays and Bank Holidays) for advice on any NIC deficiency.

Thank you

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