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NIC-Class 1A NIC

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › NIC-Class 1A NIC

  • This topic has 3 replies, 2 voices, and was last updated 5 years ago by Tax Tutor.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • May 13, 2020 at 6:52 am #570679
    AverageAndy
    Member
    • Topics: 128
    • Replies: 34
    • ☆☆

    Good morning sir,

    May 13, 2020 at 6:59 am #570680
    AverageAndy
    Member
    • Topics: 128
    • Replies: 34
    • ☆☆

    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.

    May 13, 2020 at 10:37 am #570694
    AverageAndy
    Member
    • Topics: 128
    • Replies: 34
    • ☆☆

    I understood this sir. Just finished watching your lecture.

    May 13, 2020 at 4:10 pm #570726
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Good!
    Yes it is important to work through the lectures and notes first!

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Viewing 4 posts - 1 through 4 (of 4 total)
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