Class 2 NI for a sole trader

Discussion in 'Accounting and Taxes' started by dhdsameday, Apr 8, 2019.

  1. dhdsameday

    dhdsameday
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    Hi,

    I'm currently in my first year of self employment and have just issued my first tax return for the business. I'm a sole trader.

    I got to the page that said 'You must pay Class 2 NI if your earnings are over £6500' or whatever the figure was. Anyway, I added on the previous page my income and expenditure which left me with the figure £7800. That is obviously over the Class 2 threshold so I was expecting a figure to show up what I owe... The next page then said 'Class 2 NI amount owed = £0.00' Why is this? If I'm above the threshold why is it coming up that I've nothing to pay? I have just sent my completed tax return and it came back as £0.00 owing or outstanding?? It doesn't make any sense, is there something else i'm meant to be doing to make these payments?.

    Thank you in advance.
     
  2. VITS USA

    VITS USA
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    You can follow both links for better understanding of Class 2 NI -

     

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