NICS

Question 1

Class 1 primary and secondary on what

Answer 1

Salad, bonus, vouchers + payments convertible to cash (gold),

Profit of a round sum allowance,

Employee personal bills paid by employer

Phone rental and private calls where employee is subscriber

Profit from round sum

SMRS mileage payments over the allowed(only use 45p - mock)

Question 2

Disposable income?

Answer 2

Income after IT AND NICS

Question 3

Marginal tax Rate

Answer 3

Income tax rate and NICs rate added together

Question 4

Employment allowance

Answer 4

Total class 1 Secondary are reduced by £5000 for some employers.

Not available if:
Company is just one director no other employees.

Total class 1 secondary previous year was £100k<

If connected companies:

Total class 1 secondary will be used to compare,
If exceeds no one gets it
If under, only one gets it

Question 5

Class 1A

Answer 5

On non cash taxable benefits.
If benefit is exempt from IT then also for NICs.

Car fuel van benefits

Beneficial loan interest

Phone rental and private calls where employer is subscriber

Private medical insurance

Taxable benefits under salary sacrifice rules

Relocation over £8k