I want to ask what happens with NI contribution calculation when the trader’s tax year is different from the standard tax year?
(Page 16. Question 53 - Kaplan Revision kit) Paloma has been trading for a number of years. Her tax adjusted trading profit for the year ended 31 May 2017 was £48,000 and for the year ended 31 May 2017 was 45,200.
Question: What is the amount of class 4 contribution insurance contribution (NIC) payable by Paloma for the tax year 2017/2018?
A. 3,333.
B. 3,585.
C. 3,319.
D. 3,375.