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NIC for Corporation Tax

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › NIC for Corporation Tax

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by Tax Tutor.
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  • June 1, 2014 at 5:06 pm #172390
    Mohammad Ibrahim
    Member
    • Topics: 37
    • Replies: 13
    • ☆☆

    What do you mean by when the text book says NIC contributions are tax deductible while calculating tax adjusted trading profits ?

    1) Does it mean the treatment is same as that of depreciation ?
    OR
    2) Is the treatment same as that of profit from disposal or for a short lease ?

    And what types of NIC contributions included ?

    Thank You.

    June 2, 2014 at 10:45 am #172577
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    The gross cost to companies of salaries and wages, which is of course a tax deductible cost, includes the EMPLOYER’S NIC.

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