Guy W

Hi officer, I started being self employed in the middle of tax year 2022-2023. When I filed the self-assessment tax return, I just calculated the class 2 NI for 30 weeks that covered the period of my self employment. Afterwards, I found from the system that I did not contribute enough for that year. My questions are: 1. The tax payment is due soon. Can I still make amendment to the self-assessment tax return to make more class 2 NIC? 2. Does it mean that if I pay the additional 22 weeks of class 2 NIC for tax year 2022-2023, I would be regarded as "contribute enough"? 3. Is it that the way to amend the tax return is to tick the box to show that I wish to pay Voluntary Class 2 NIC and indicate the amount as GBP 3.15 x 52 = 163.8? Thank you.

Hi officer, My wife and myself are both sole traders providing different consultancy services to clients. We plan to form a partnership to extend our client reach and also better utilise our resources. We have the following questions about forming the partnership. 1. We are currently sending invoices to our clients under our own name, After forming the partnership, could we still do that or we have to make up a business name and use that name in our invoices instead? 2. We receive payments from our clients into our own bank accounts. Could we still do the same in the future, or do we have to set up a joint bank account for the partnership to receive payments? Thank you.

I have the same question. Can anyone answer?