Employment earnings in 2018/19 were £703,395 and self-employment earnings (for 9 weeks only) were £47,457. Class 1 NICs paid were £15,578. Originally HMRC charged Class 4 cobntributions on the usual basis without considering the employment earnings (£3,435.28) and following correspondence have now adjusted it to £2,010.82. Class 2 contributions are £26.55. The software has calculated the Class 4 contributions as £47,457 - £8,424 x 2% = £780.66. I should appreciated views on who is correct please.
Replies (2)
Please login or register to join the discussion.
See David Heaton's excellent explanation here:-
https://www.accountingweb.co.uk/any-answers/class-2-ni-when-there-is-lot...