HM Revenue and Customs (HMRC) are currently consulting recently published plans to simplify the way self-employed people pay National Insurance Contributions.
It has been put forward whether it might be less hassle to collect contributions alongside Class 4 NICs and Income Tax through the Self-Assessment Process. This would mean self-employed people would only need to fill in an annual SA return to have these NICs collected. The aim is reduce the administrative burden on self-employed people, which is the main area many express difficulty in when taking the steps to become self-employed.
HRMC are also encouraging representatives of the self-employed to respond to the consultation before the final review. The closing date for this is the 9th October 2013. More information can be found on the HMRC website.
The financial aspect of going self-employed with your trade can be offputting to many skilled tradesmen, but here at Access Training we make sure our students are fully prepared to take that next step in their career. As well as all the relevant qualifications in electric, gas, plumbing and various construction trades, help is on hand to give you the basic knowledge you'll need to handle the technical side of self-employed life. After that you'll be free to enjoy working flexible hours while being your own boss. For more information on our training courses and what is needed to become self employed contact us via email or telephone 0800 345 7492.