11:27 AM, 15th January 2019, About 3 years ago 15
Completing a self assessment tax return for filing this January with only the UK Property page, no employment, no self employment. The summary tax calculation is now including Class 4 NICs at 9% of the profit on the tax calculation summary page.
I’ve seen various articles if this is, or is not, due to be paid as a buy to let landlord. It’s automatically generating 9% tax on the profit as it is over £8424. If it is not due, how can this be amended as it is generating this NIC total automatically. I used to pay Class 2 NIC but that has disappeared, is that still an option in 2018 or has that now been abolished. What would you recommend and is Class 4 NIC now due for payment by all buy to let landlords?
I hope this question makes sense. The properties are not in a partnership or company.
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