I am currently a full time employee earning £30,000 per annum. I am intending to do some extra freelance work. i expect to earn approx £6000 extra through this freelance work. I will need to register as self-employed and do self assessment and pay income tax (22%).
My question regards NI. As i am already paying NI on my current salary, will I need to pay NI on the £6000 extra. On the Inland Revenue form it says you have to pay class 2 up to £4615 and class 4 up to £30,420.
As i already have a salary of £30,000, do i only need to pay class 4 NI on the outstanding £420 of the £6000 extra i will earn? Or is the extra £6,000 counted as a completely seperate income, in which case i have to pay class 2 up to £4615 and class 8 on the remaining £1385?
thankyou
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