Employees with more than one job may be able to defer or delay paying Class 1 National Insurance in certain circumstances.
This deferment can be considered when any of the following apply:
This deferral could result in NIC deductions at a reduced rate of 2% on your weekly earnings between £242 and £967 in one of your jobs, instead of the standard rate of 8%.
HMRC will check if you have paid enough National Insurance at the end of the tax year and will write to you if you have underpaid contributions.
Most self-employed people are also required to pay Class 4 NICs. It used to be possible to defer these contributions, but that is no longer the case. You may be able to claim a refund for previous tax years.
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Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s
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There are special rules concerning the liability to IHT of a transfer made during one’s lifetime. For example, most
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Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made
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