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Certificate of Small Earnings - any downsides?

Discussion in 'General Forum' started by Alva, Dec 2, 2006.

  1. Alva

    Alva New Member

    I've just registered as self-employed and will qualify for a certificate of small earnings. Should I get one, or are there major disadvantages? Very new to all this, and your thoughts are welcome!
     
    Alva, Dec 2, 2006
    #1
  2. simonsjdaccountancy

    simonsjdaccountancy New Member

    No downside to this, but no massive upside either.

    Small earnings means you will not have to pay Class 2 National Insurance, but seeing as these are only about £2 per week you are not actually gaining much!

    Still, better in your pocket of course.
     
    simonsjdaccountancy, Dec 4, 2006
    #2
  3. Alva

    Alva New Member

    Thanks - that's very good to know. The form doesn't look too scary, so I'll go for it!
     
    Alva, Dec 4, 2006
    #3
  4. DaveP

    DaveP New Member

    Does anyone what happens if you apply for one of these and then go over the threshold?

    At the moment i can't see me reaching it, but it could well happen if I get more projects etc in the next 9 months.
     
    DaveP, Jul 1, 2007
    #4

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