NI Class 2 again! Dec 09 BTC paper

reddwarf

I can't figure out why they have said 10 months for the Class 2 and not 9?? Its a year end of April 31st to 31 st January period.

This class 2 stuff is drving me batty !

A-Vic

reddwarf wrote: »

I can't figure out why they have said 10 months for the Class 2 and not 9?? Its a year end of April 31st to 31 st January period.

This class 2 stuff is drving me batty !

you sure its not 1st April?

Yoelle

We covered this in a revision class the other day. Class 2's are done on number of weeks of the tax year, so the tax year starts 1st April, therefore 1 April to 31 Jan is 10 months- it's not calculated on the companies chosen accounting year dates but the HMRC April to March dates. I hope I understood this right- let me know if anyone else agrees!

jewels.p

Yip I agree

reddwarf

Thanks for clearing this one up!

reddwarf

Just to confirm, if a sole trader were on current year basis they would pay 52 weeks class 2 regardless of their accounting period. Its only commencement and cessation that would alter that.