ShareFisherman NIC Class 2 calculation input figure different to Tax computation and SA110

sharefisherman-nic-class-2-calculation-input-figure-different-to-tax-computation-and-sa110

ShareFisherman NIC Class 2 calculation input figure different to Tax computation and SA110

15th April 2020

IRIS Personal Tax

ShareFisherman NIC Class 2 calculation input figure different to Tax computation and SA110 (Personal Tax Return TC1 Box 4.1)

Currently when selecting the option ‘Sharefisherman rate applies’ within the NIC adjustment data screen the correct amount of NIC is calculated at £193.45 (£3.65 x 53wks), however running the computation the amount £192.00 is being displayed (this is also the case for the tax return). Unfortunately, there is no estimated date for this to be fixed or workaround, at this precise moment in time. However, there is a service pack due to be released on week commencing 18th May 2020, which may have the implemented changes.

The calculation shows correctly in the Data Entry Screen.

Please see the Personal Tax Computation and Personal Tax Return (TC1 Box 4.1) below.

Expected results/Solution: Amount of £193.45 should be reflected on the computation and return.