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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!
  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.
  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!
  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.

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