Partners' National Insurance
The partners may need to pay both class 2 and class 4 national insurance. The former is a fixed sum per week (currently £2.40 per week) and is normally collected via direct debit every four weeks. If your earnings are below £5,075 then you would need to apply for an exemption.
Class 4 national insurance is paid on the business profits (partner's share). The rate is 8% on profits between £5,715 and £43,875 and 1% on profits above £43,875.
For information and assistance on national insurance, please call 01923 224411 or email Priya Raja-Motala.
Turnbull Associates
Iveco House
Station Road
Watford
Hertfordshire
WD17 1TA
enquiries@turnbull-associates.co.uk
Tel: 01923 224411
Fax: 01923 235303