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  • RE: National Insurance for Self Employed after reaching pension age

    Hello and Happy New Year! I'm also 67 years of age and moved to the UK in 2022 with my wife and daughter. I continue to work full time and hope/plan to continue working for the next 10-15 years. I feel and look 50 - LOL! Do I understand the admin's response correctly that since we're over the state pension age, we are not allowed to contribute anything to class 4 and class 2 is strictly voluntary at £3.45 a week for 2024-2025. Moving on, if I begin contributing annually into a private pension, will the State still provide a 20% tax break? Thank you! Frank
  • RE: Income paid/cleared question.

    Thanks much. Enjoy your weekend. Frank
  • Income paid/cleared question.

    I need to clarify whether I pay tax on income for date the money was paid by my customer or when the money was cleared into my bank account. I use Stripe as my payment gateway and I always receive the money 2 to 4 working days after my customer made the payment. So if a customer paid me £75 on 04 April 2024, and I don't receive the £73.37 payment in my bank account until 07 April 2024, do I include the £75 in my 2023-2024 tax returns or do I add it to my 2024.2025 tax returns. I read that either way is acceptable, providing I consistently report it the same way every year. I just need to confirm. Thank you, Frank