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NIC

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › NIC

  • This topic has 2 replies, 2 voices, and was last updated 10 years ago by josy87.
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  • October 26, 2014 at 1:11 am #205983
    josy87
    Member
    • Topics: 173
    • Replies: 215
    • ☆☆☆

    Hi Sir
    I am a little confused about the NIC employer. some case, it’s applied on class 1 employee and employer, but others case it’s on employer class 1 and class 1A.

    October 26, 2014 at 9:44 am #206054
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Read OT course notes Chapter 11. Employers will pay Class ! Employer contributions on any cash payments made to the employee – salary / wages, bonus, commission, and will also pay Class 1A contributions on the amount of any assessable benefits of the employee.
    In answering a question read it carefully as to whether it specifically asks you to calculate Class 1 NIC’s or whether it states for you to calculate ALL NIC’s as this will then also include Class 1A.

    October 26, 2014 at 9:48 am #206055
    josy87
    Member
    • Topics: 173
    • Replies: 215
    • ☆☆☆

    thanks

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