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question

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

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by Tax Tutor.
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  • Author
    Posts
  • April 24, 2022 at 12:32 pm #654350
    xyzc
    Participant
    • Topics: 413
    • Replies: 175
    • ☆☆☆☆

    Is employer class 1 NIC deducted in calculating the corporation tax liability or taxable total profits.
    Also is it correct to show it like this:
    Tax adjusted trading profit 100000
    Less Employer class 1 NIC (5335)
    Taxable total profits 94665
    Also why is employer class 1 NIC not shown as a deduction in proforma corporation tax computation

    April 28, 2022 at 11:57 am #654533
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Employers NIC is a part of the overall salaries and wages cost of a company – it is not a separate expense item

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