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class 1 nic

This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.

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September 4, 2020 at 6:29 am #583324
agnes222
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why is beneficial loan not included in class 1 NIC? Isn’t it a taxable cash benefit?
September 4, 2020 at 11:58 am #583415
Tax Tutor
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It is not a question of why – it is a question of is or is not and then follow the rule.
Remember that the benefit is due to a beneficial interest rate on the loan not the cash loan itself – remember also that class 1A NIC will be payable
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