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NIC

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › NIC

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by JillyB.
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  • January 21, 2024 at 11:01 am #698747
    radhwaan
    Participant
    • Topics: 30
    • Replies: 43
    • ☆☆

    Good day ma’am.

    Just need clarification on whether NICs(Class 1,Class 2, Class4) paid by individuals are deductible from their employment income/trading profit.

    And Class 1 and Class 1A NICs paid by employers is deductible from from trading profit while calculating Corporation tax right ma’am?

    Thank you very much

    January 23, 2024 at 2:23 pm #698940
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    Class 1 is deductable by the employer on all payments – er’s and ee’s.
    Class 2/4 is not deductible from trade profits

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