LOSS RELIEF AND NICS

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June 23, 2021 at 11:31 am #626147
ABDULLAHI312
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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?
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July 1, 2021 at 10:01 am #626781
Tax Tutor
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A trading loss brought forward will reduce the trading income of the trader for Class 4 NIC purposes.
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