Greetings sir,
A beneficial loan of 2600 is it not exempt from class 1A nic?
as beneficial loan of below 10000 is exempt from taxable benefits
Ask the Tutor ACCA TX-UK
Class 1A NIC
There is only a Class1A NIC liability for the employer if there is an assessable benefit! If the benefit is exempt then there is indeed no Class 1A charge.
thank you sir
so thats an exempt benefit under employment income, and is not a taxable benefit under NIC 1A?
thank you so much for your help
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