You pay two per cent on any money earned over £5000. What savings can I expect? Apr So if you were to earn £2in a week, you would pay NI on £34.
You are allowed to earn a certain amount before you have to pay anything but if you. National Insurance contributions and that should be .
You may not have to pay any NICs at all, depending on the level of salary you. In fact, if you earn less than £1per week, you are not liable to pay any NICs at all. If you are a sole trader, or member or a partnership, you do not pay. Since you will only be earning for part of the tax year, you are unlikely to earn a lot more than £15so you should not have to pay very much income tax.
Mar So how much do you have to pay ? For a qualifying year, you generally need to earn a minimum amount of money during a tax year (April to April) and pay the required NI contributions. Do I need to register as self employed?
As a self-employed person, you will usually pay Class national insurance. Class NICs if you earn above a certain amount.