PTP TR - Class 2 NIC

Article ID

kba-03513

Article Name

PTP TR - Class 2 NIC

Created Date

24th June 2016

Product

Problem

How to include Class 2 NIC in the calculation

Resolution

Provided the level of relevant income is above the Class 2 NIC threshold for the current tax year the software will automatically include the maximum amount of Class 2 available for the year.  If the level of income is below the threshold but the client wishes to make the Class 2 payment voluntarily please tick the box within the Business Details tab of the Self Employment supplement “Total profits below Class 2 NIC threshold for the year and paying Class 2 NICs voluntarily”, or tick box 25 on the Partnership supplement, to facilitate this.

If the amount of Class 2 NIC needs to be restricted for any reason this will need to be done manually via the fanned pages icon within the Tax Calculation screen.