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I've found a few ideas on here that I'm mulling over. http://www.mysmallbiz.com/ Next stupid question: if I do manage to set up a successful business how do I pay the national insurance etc? Are there any other costs like that I need to consider? (I know it's a stupid question) |
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Class 2 nic is for self employed earners if your profits are over a certain amount and is payable now quarterly, tax will be 20% on your profits above your personal allowance and 40% if your profits go into the higher are tax band (currently £6475 for the under 65's) you might also have to pay class 4 nic , but you pay this with your tax bill. I would suggest getting the advice of a good accountant, nomally they don't charge for the first meeting. |
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