Are Class 2 NI's deductible?

Psyche

OK, I know this is a "duh" question, apologies in advance.

Can a self-employed person deduct their Class 2 National Insurance contributions from their turnover in calculating their taxable profit? If so what box would it go in?

Thanks!

Anne Boleyn

Class 2 NI

Hi Psyche

Unfortunately not.

Regards

Psyche

That's stupid!
Thanks for the info anyway.

Monsoon

Psyche wrote: »

That's stupid!

Why is it?
NI is essentially a tax.

While it would be nice to offset income tax against taxable income, it sort of defeats the point

AK002

Nope, they're treated as drawings IIRC.