I don't want to be self-employed anymore, what do i need to do????????

[Leaky30]

Hiya, I wondered if someone could give me some advice please as I want to look for employment with an employer and become un self employed, if you get my drift. I have been cleaning and ironing for about four and a half years now but my clients have started to dwindle away over the past year, as they are struggling aswel. At the moment I am doing about 9 hours a week but I use to do about 18-20 hour. I work in 2 little villages about 15 miles away from we're i live and at the moment it's costing me loads in petrol as I travel there twice aweek, and I'm left with about £30. It's been that bad that my NI contributions have not been paid for tha last year and I can't even afford to pay my accountant £150 from last year. I feel like I'm in such a mess at the moment and don't know what to do. Any help or advice would be great thanks, Debbie.

[MARTIN3030]

You need to inform HMRC.

Its likely that they will accept the arrears of NI contribution by installments but you do need to be contacting them.If you dont then class 2 contributions will continue to become payable.

Also contact any trade creditors in writing.You should be setting a date from which you are ceasing self employment too.

[Leaky30]

Thank you Martin3030, will be getting intouch tomorrow with the HMRC. Hopefully i can sort out a repayment plan for my NI contributions, just need to sort out my tax returns now as i cant afford an accountant lol i have been told it pretty easy. Thanks again, Debbie.

[MARTIN3030]

There is a direct number for NI contributions office at HMRC its 084591 54655 have your NI number to hand when you call.

Its worth mentioning too-They issue class 2 payment requests in arrears at the end of each 6 month period April and October so you should have had one in October telling you what is overdue if you didnt pay for a year its likely that these would need to be paid by 31stJan 2013 at latest.

Its only at that point you may be liable for NICs at a higher rate.

 

Additionally you might be eligible for small earnings exemption.

If your income from your business is below £5995 for the tax year 6 April 2012 to 5thApril 2013 then you might not have to pay classc2 NICS.

There is a form for this CF10 you can download this from http://www.hmrc.gov.uk/forms/cf10.pdf