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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › NIC-Class 1A NIC
Good morning sir,
Sir I found a sentence in my study text that am unable to understand. It says that :
“the employment allowance is deducted form the the total class 1Employer’s NICs, not from the liability relating to one individual.”
So, I have two doubts pertaining to the aforementioned sentence. One, by employment allowance are they referring to employer’s class 1A NIC? Two, I used to think that employer’s class 1A NIC was deducted from his/her tax adjusted trading profits. But this sentence seems to suggest that its deducted from Employer class 1 NIC. So, now am confused.
Any help would be much appreciated.
I understood this sir. Just finished watching your lecture.
Good!
Yes it is important to work through the lectures and notes first!