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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 8037
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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Should I avoid earning jsut over £50,000

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Should I avoid earning jsut over £50,000

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Thank you for your question.

You would still have to file a tax return whether your total income is above or below £50k.

If you keep your net income from private tution below £6,475 your would avoid paying Class 2 NI - flat rate per week of £3.05 when profits exceed £6,475

Avoid paying Class 4 NI if profits below £9,500 otherwise 9% on profits between £9,500-£50,000

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