Hi:)
This has bugged me for some time and I am hoping for some guidance.
I am a self-employed actor who has had some abysmal income for the last two years i.e. less than 1Kpa and use my employment to finance my lifestyle i.e. PAYE £25Kpa.
I am paying Class 1 contributions for my PAYE employment but should I also be paying Class 2 contributions for the fact of my class 1 contributions? Should I simply apply for Class 2 exception? Will I lose any benefits by not paying Class 2 NI contributions?
Finally, on a tax return they have separated the tick boxes for Class 4 contributions Exceptions and Deferment into two separate boxes. In light of my earnings and circumstances, which one should I be ticking?
Thank you in advance in answering this.
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