First of all sorry if this has already been asked, I'm sure in one way or another it has, but I have looked around and couldn't find the exact same situation. During last year I was employed first by one company, then by another, and then from six months to date I have been Self employed. My contributions during the time I was employed are all ok, but when filling in my Self Assessment, HMRC gives me the option to pay or not Class 2 contributions given that the money I have made whilst Self employed is below the Small Profit Threshold of £5,965...
My question is, if I sum up all the money I have earned both employed and Self employed I am well over that threshold, would that mean that I need to pay those class 2 contributions anyway? or would I only have to pay if it's exclusively my Self employed profit that is over the Threshold, regardless of whatever money I may have earned whilst being employed?
Anyone kind enough to shed a light on this for me?
Thanks a lot!!!
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