HI
In the event there is trading loss in the previous tax year which no claim has been made so far and trading profit current year, should the NICs be computed based on the actual trading profit of the current year or after making the loss relief?
THANKS.
Ask the Tutor ACCA TX-UK
LOSS RELIEF AND NICS
A trading loss brought forward will reduce the trading income of the trader for Class 4 NIC purposes.
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