nic

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May 9, 2017 at 10:31 am #385479
zeuswaweru
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William is self employed ,and his tax adjusted trading profit for the year ended 5 April 2017 was 82,700 during the tax year 2016/17 ,he contributed 5,400 (gross) into a personal pension scheme .
what amount of class 4 NIC will William pay for the tax year?

I got 3939
without including the pension scheme is it correct or i will need to include the pension scheme.
May 9, 2017 at 7:06 pm #385527
Tax Tutor
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Class 4 NIC is simply based on the tax adjusted trading profit less any trading losses so your figure looks correct
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