Falcon is self-employed and runs her own business. Falcon’strading profits for the year 2014/15...

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Accounting

Falcon is self-employed and runs her own business. Falcon’strading profits for the year 2014/15 were £5,100. Profits perFalcon’s financial statements were £5,700. Falcon also had earningsof £9,500 from part-time employment. Which of the followingcombinations of National Insurance contributions must Falcon pay in2014/15?
a) Class 1 primary, Class 1 secondary
b) Class 1 secondary, Class 4
c) Class 1 primary, Class 2
d) Class 4, Class 2

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4.1 Ratings (828 Votes)

Combinations shown in C class 1 primary class 2 holds true Any contribution are paid by employer and employees classified in CLASS 1 Being an employee Falcon must pay contribution and any employee contribution is See Answer

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In: AccountingFalcon is self-employed and runs her own business. Falcon’strading profits for the year 2014/15 were...Falcon is self-employed and runs her own business. Falcon’strading profits for the year 2014/15 were £5,100. Profits perFalcon’s financial statements were £5,700. Falcon also had earningsof £9,500 from part-time employment. Which of the followingcombinations of National Insurance contributions must Falcon pay in2014/15?a) Class 1 primary, Class 1 secondaryb) Class 1 secondary, Class 4c) Class 1 primary, Class 2d) Class 4, Class 2