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NIC

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

  • This topic has 2 replies, 2 voices, and was last updated 9 years ago by bkyal.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • November 4, 2015 at 9:29 am #280430
    bkyal
    Member
    • Topics: 4
    • Replies: 12
    • ☆

    Dear Sir,
    I understood that Employer pays NIC1 – on remuneration of the staff (@13.8% if remuneration exceeds 7956/-, and there is allowance of 2000/- & ALLOWABLE DEDUCTION in Trading Income Calculation.

    And for NIC1A – on Taxable Benefit provided to those whose remuneration > 8500/-, @13.8%,
    My query is whether payment for the NIC 1A is also Allowable Deduction from Trading Income of the Employer Or Not?

    November 8, 2015 at 10:49 am #281109
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Employers NIC’s are indeed tax deductible as part of the overall salary and wages costs

    November 9, 2015 at 6:31 am #281201
    bkyal
    Member
    • Topics: 4
    • Replies: 12
    • ☆

    thanks sir

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