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Class 2 nic

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Class 2 nic

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by AvatarTax Tutor.
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  • July 30, 2017 at 4:22 am #399371
    Avatarzkaay
    Participant
    • Topics: 212
    • Replies: 98
    • ☆☆☆

    If starting trading was from 1/12

    How to calculate weeks for class 2

    August 1, 2017 at 11:21 am #399812
    AvatarTax Tutor
    Member
    • Topics: 2
    • Replies: 3960
    • ☆☆☆☆☆

    In real life it is on a weekly basis from when the trader started to trade or until they ceased trading. I would expect an exam question to test a full year of trading but if a start up or cessation situation I would time apportion on a monthly basis so for example a 3 month period would be 3/12 x 52 weeks = 13 weeks. I think it very unlikely that a fraction that didn’t work to a nice round number of weeks would be examined, 4/12 (as in your example would be just over 17 weeks) – if this were tested then on a MCQ the options would include either 17 or 18 weeks not both thus making it a straightforward decision – the examiners have got more important things to test!!

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