Lewis a sole trader starting business on 1/1/2016 and made profit for the period 1/1/2016 to 5/42016 12000.
what is the Class 4 national contribution ?
I have taken the exemption of 8060 proportionately for 3 months ie. (8060/12*3= 2015 and calculated, but went wrong as per the BPP text. Full exemption limit is considered ie. 8060.
I want to reconfirm this calculation (BPP) is correct as I found it is quite illogical
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National insurance contribution
I cancel my question as I convinced my self that Class 4 is based on trading profit for the year and time period has no role .
Thanks
Quite right!
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