BTC - Chargeable Gains & N.I.C

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi,<BR><BR>I'm about to sit the BTC paper next week and I'm struggling on trying to remember the workings and computations for Chargeable Gains and National Insurance Contributions for the Self Employed/Partnerships (i.e Differences between Class 2 contributions and Class 4 Contributions). Can anyone help?<BR><BR>Thanks

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    BTC - Chargeable Gains & N.I.C

    Chargeable gains is confusing the hell out of me as well - but as for NIC - Class 2 is paid weekly by the self employed (and partners) at £2 per week. Class 4 is then effectively a "top up" calculated on the profit. I think it's calculated at 8% - the personal allowance is taken off first - then up to £30940 is calculated at 8% and anything above that is done at 1%. <BR>Hope this helps.<BR>Laura

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