22. CLASS 1A AND 1B NIC Flashcards
1
Q
what is class 1A and 1B
A
class 1A - taxable benefits or termination payments excess > 30k
class 1B - paye settlement scheme
2
Q
due date for class 1a
A
22 july following tax year
3
Q
name of form for submitting class 1A benefits
A
P11D(b)
4
Q
due date for class 1b
A
22 october following tax year
5
Q
who pays class 1A and class 1B
A
employers for both
6
Q
how to figure out class 1B
A
gross up the benefit according to tax rate
7
Q
A
