Commentary

B9.106 Incorporation—NIC aspects

Business tax
Business tax | Commentary

B9.106 Incorporation—NIC aspects

Business tax | Commentary

B9.106 Incorporation—NIC aspects

In the year of incorporation, the trader will often be both self-employed and an employed earner (as director of the company) for part of the year. The only time this will not be the case is when incorporation takes place with effect from the start of the tax year.

Where there are such liabilities to Class 1, Class 2 and Class 4 contributions in the same year, it can be worthwhile considering the impact of the rules that establish the maximum payable. In practice, this is likely to require a claim to recover overpayments after the end of

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