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Posted Mon, 09 Dec 2024 18:10:25 GMT by Elaine Yip
Dear Sir/ Madam, I work as a freelancer; I registered Self-assessment for Year 23/24 and got my UTR. When I was filling the self-assessment forms, I realised that I have to register sole trader in order to pay NI, so I registered as a sole trader on 11 November. I am pending to submit the self-assessment as I don’t know if the sole trader registration is completed. My questions are: 1. How and when can I know if my sole trader registration is successful and completed? 2. When my sole trader registration is done, will the HMRC system be able to update and link up my self-assessment to my sole trader account and calculate the NI Class 2 and NI Class 4 that I have to pay? I look forward to hearing from you. Thank you for your assistance. Elaine
Posted Mon, 16 Dec 2024 13:22:40 GMT by HMRC Admin 10 Response
Hi
Please submit your tax return.  Self assessment will calculate your class 2 and class 4 NIC contributions, which are payable along with any tax you owe.  Class 2 is a voluntary contribution for net profits below £6725 in 23/24.  If after tick the voluntary class 2 box, your NIC payment is not included, you will need to contact the NIC helpline on 0300 200 3500 and pay the NIC directly.

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