Class 1 employee NIC

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August 24, 2020 at 7:12 am #581696
Noah098
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Dear Tax tutor,

Sir if an individual has worked with the company only for 6 months then his class 1 emplyee threshold will fall to 8632*6/12=4316 and 50000*6/12=25000, right??
August 24, 2020 at 5:48 pm #581796
Tax Tutor
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Yes – in real life there are both weekly and monthly limits as well as annual (used in the exam) and NIC will be computed based on the earnings period of the employee – ie are they paid weekly or monthly.
We just time apportion the annual figures as you state
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