Showing NICO payments on return?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
I am using Tax Calc for tax returns and just wondered when the credit would be shown for NI contributions made throughout the year already? It gives the total amounts due but at what point would these be taken into account by HMRC?

First year doing this so please excuse my ignorance! :D

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Showing NICO payments on return?

    are you talking about class 2 NI? if so this doesn't need to be declared anywhere on the tax return (if payments are made from a business bank account then they should be included in drawings)
    If you're talking about class 4 NI then any payments on account made towards the 2006/07 liability will be included with the income tax payment on account made on 31 Jan, and shown on the tax computation, I don't use tax calc so can't advise as to where you enter details of PoA already made.
    I don't know whether I've answered what you were asking - just shout if i've misunderstood your question!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Showing NICO payments on return?

    thanks Jodie. It is class 4 Ni, but on tax calc, there does not seem to be any allowances for the payments made throughout the year. It just gives a tax and Ni due by 31/01/08. Obviously(tee hee) they will have a record of it and so any underpayment(of amount already paid) would balance out! BUT as we all know things are not always smooth sailing with HMRC!
    Thanks for replying Jodie! :D
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Showing NICO payments on return?

    I don't understand why he's paying class 4 'throughout' the year :?

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