Tax Forum :: Free Tax Advice

Hi,

I recently became self employed on 5th March 2018, I was employed before this period and of course paid class 1 contributions.

For the period 5th March - April 5th 2018 I earned less than the £6,205. Can I just pay class 2 contributions for this approx. 2 weeks?

Are profits pro-rated (then I'd need to pay class 4)?

Chris

Can I just pay class 2 contributions for this approx. 2 weeks?

- yes there will be the tick box saying i want to pay voluntarily when you complete your tax return.
Note though any voluntary class 2 you do choose to pay will vanish from the face of the earth* on 31/1/2019 if you havent paid it by that date. It can be got back but ensure payment is made well before the deadline just in case.

Are profits pro-rated (then I'd need to pay class 4)?

Nope - no issues in that regard full years allowance is available

Can I just pay class 2 contributions for this approx. 2 weeks?

Note 5/3/18-5/4/2018 is closer to 4 weeks than 2 weeks