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RESOURCES & LINKS Taxation (UK): https://www.gotitpass.com/tx Got It Pass: https://www.gotitpass.com Find me on Facebook: https://www.facebook.com/GotitPass This course discusses the second part of national insurance, focusing on self-employed individuals. There are two relevant classes: Class 2 and Class 4. Class 2 is for self-employed people aged 16 and over who earn above a certain threshold. Class 4 applies to all self-employed individuals aged 16 and up. The specific earnings limits and rates are available in tax tables, which are referenced throughout the discussion. The course emphasizes the usefulness of visual aids like diagrams in the study materials, suggesting that familiarizing oneself with the classes and their rates can save time during exams. While students don't need to memorize everything, knowing key numbers like Class 2's rate of £3. 45 per week and the percentage rates for Class 4 can be beneficial. The tax tables contain all necessary numerical information, including rates for employees and employers. It’s noted that about 90% of national insurance questions in exams involve calculations using these rates. The author encourages students to practice calculations, as they mainly consist of basic math operations like multiplication and subtraction. Overall, the course aims to clarify the concept of self-employed national insurance and stresses the importance of being prepared for calculations in exams, advising students to be familiar with the relevant numbers to improve their performance. #acca #taxation #accatx #accacourse #accatraining #accaexam #accounting #uktax #uktaxation #nationalinsurance #selfemployed
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