Class 1A NIC

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August 21, 2016 at 7:23 am #334308
Rakeshkumar`
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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
August 21, 2016 at 10:02 am #334320
Tax Tutor
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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.
August 29, 2016 at 8:35 pm #336100
Rakeshkumar`
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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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