Tax/NI and self-employed questions

[Mr Whippy]

I already work full time, but want to start a small business (very small)

Do I still register as self-employed on the HMRC website, and just operate as per normal self-employed (for all they care), except I just pay tax on profit, and no NI payments (as these are covered with PAYE full time payments)!?

Just doesn't seem clear on their crappy website...


Thanks

Dave

[Chris_w666]

Are you setting up a company with you as a director or you as a sole trader?

From what I know, Directors pay class 1 NIC and all self employed people pay Class 2 NIC (including sole traders).

If you plan to make less than c£5500 (not an exact figure) as profit or earnings and are self employed you can gain an exemption from any NIC.

Probably no more helpful than their site but its something I have to learn over the next few weeks too.

[Mr Whippy]

Just me, earning up to around that threshold, on a weekend, alongside my normal job paying a nice big chunk of NI every month.

To say I might have to pay more to my name ever so slightly pisses me off, despite it being only a small amount.

I'll ring them tomorrow and see/set it all up. Just knowing what some people on telephones are like I wanted some clear yes/no ammunition to fire their way, rather than listening to their vague or incorrect answers... if their unclear website is anything to go by

Lame, no wonder the country is tits up. Tax doesn't have to be taxing MY ARSE

Dave