Hi,
I'm filling in the on-line self assessment form for 2016-17 and think I am going wrong somewhere. I'm semi retired and I work at home in the UK on an as-needed basis for an overseas engineering company. I might have 10 hours work one week and none the next etc.
I earned £13,479 in the 2016-17 tax year, and I had £518 expenses which, with my tax-free allowance of £11,000 meant I am taxable on £1961. The on-line Form is calculating my income tax as £392 which I think is correct, and also shows me liable for Class 2 NIC's of £145.60 and Class 4 NIC's for £586.69. This is giving me a total deduction for tax & NIC's of £978.89, which seems a bit high on my earnings. Do these NIC contributions look correct?
Any advice is much appreciated.
Michael.
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