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There is a question like, On 1 Dec 2018 Hazel joined the employment. He will be paid a gross monthly salary of 3300. Calculate class 1 Employee Nic for 18/19
Now here, I know that we will use monthly limits and do following calculation
(3300 – 702) x 12% x 4 months = 1247
Just want to ask 1 thing that why we are multiplying by 4 months? this is because he is employed for 4 months? what if he was employed for 12 months or 14 months?
There are only 4 months from the start of the employment to the end of the tax year – once more you are not relating, here the NIC, or previously the income to the TAX YEAR for which you are required to determine the assessment.
If Hazel had started the employment on 1 July 2018 there would be 9 months of NIC within the 18/19 tax yearAnd if suppsoe hazel had joined on 1 April 2018, then would we have multiplied by 12 months?
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