Class 4 contributions are normally collected through the same self-assessment system as income tax under ITTOIA 2005.

SSCBA 1992 directs that the provisions of the Income Tax Acts about assessment, collection, repayment, recovery and, in particular, penalties apply to Class 4 contributions as if they were income tax due under ITTOIA 2005, Pt. 2, Ch. 2. The new penalty regime for under-declared earnings in FA 2007, Sch. 24 introduced with effect from 6 April 2009 for returns of 2008–09 profits applies equally to Class 4 contributions (see para. 30).

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.