Learning outcomes
· By the end of this session, participants will be able to:
· Understand how NICs apply in an employment context, including:
o Class 1 – what it applies to and how it is calculated
o Class 1A – understanding NIC on benefits in kind and how to calculate it
o Class 1B – NIC under PAYE settlement agreements and calculation methods
· Understand how NICs work for the self-employed, including:
o Class 4 – what it applies to and how it is calculated
o The impact of trading losses on Class 4 NIC liabilities
