I was self-employed up to 31 Jan 2017 when I incorporated my business.
My accounting year is the same as the tax year.
My self-employed earnings were about £25,000 for the 10 months in tax year 2016/17. I will receive no renumeration at all from the new company for 2016/17.
Am I right in thinking I will pay Class 2 NIC of £2.80 for circa 43 weeks and 9% Class 4 on my earnings above £8.060?
I don’t know if the £8,060 is pro-rated down for less than a year of self-employment.
Also, will I have a full NIC Qualifying Year for 2016/17, or will there be a shortfall to make up via Class 3 voluntary contributions?
Thanks for your help.
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