Did to start paying my own stamp (national insurance)?

Question

So what do I do, where do I go, who do I speak to?

;~)

I'm writting a book and I

I'm writting a book and was advised that I didn't need to start paying my own stamp till the end of the tax year, which is coming up. So who do I contact

Answer 1

How might NI and tax affect your business?
Here is an introduction to the different kinds of taxes that you might have to pay - working on your own or in business with others. There is also an introduction to ways of paying less tax.

But before you read on...

...three questions you'll find helpful

As you read about these taxes, you'll find that the rules change a lot according to the answer you give to these three questions:

Are you setting up in business as a self-employed individual, or as a company/limited liability partnership?

Will anyone be working for you as an employee?

How much turnover do you expect to have in your first year of business, and how much profit do you expect to make?

If you can answer these questions early on, when you read through the information, you'll find it easier to pick out how the different rules affect you.

...and one tip

Remember - the key to paying no more tax than you need to is keeping proper records.

Answer 2

Contact HMRC.
You are not liable for Class 2 contributions because you are under the threshhold. ie you have no income.
However, if the book is successful and you make pots of money you will become liable for Class 2 for the tax year in which you made a profit, and Class 4 NIC, but subject to the artists profit averaging.
If you sell the book, or get an advance on publication SEE AN ACCOUNTANT.

Answer 3

Not paying for the most basic stamp now will possibly affect your pension rights later on. You need to speak to the Inland Revenue people as they will point you in the right direction

Answer 4

If you are employed, then your employer will automatically deduct NIC from your wages and pay it over to Revenue and Customs. If you are self employed, you should register with Revenue and Customs within 3 mths of starting. See www.hmrc.gov.uk and follow the links for how to do this.
If you are unemployed, you don't pay NIC, but the Job centre credits your NIC record for you.

Answer 5

Huh do you mean how/when do you start paying national insurance? Well you get a card when you turn 16 if you are a british citizen, then on job applications you just fill in the number that is on your card, and it is automatically deducted from your wages.

Answer 6

if you mean you are self employed and want to start paying your stamps then the tax office can advise you