National Insurance (NI) types. If you are PAYE you pay Class 1 NI at 12% of earnings between £168-£892 per week. If you are self-employed you pay Class 2 NI at £2.95 per week if earning over £6,205 as well as Class 4 NI at 9% on profits over £8,424 up to profits of £46,350, when it goes to 2%. If you are PAYE and self employed then you pay both but HMRC do contact you if you have overpaid during any tax year.
The latest news from PMC Partnership incorporating Pomfreys Accountants – May 2022.