Joan is a company director. Her salary is paid on the last day of each month. Her
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Joan is a company director. Her salary is paid on the last day of each month. Her gross salary throughout 2023 was £8,400 per month but she was awarded a 4% pay increase as from 1 January 2024. She contributes 10% of her gross salary to the company pension scheme and the company makes a further 15% pension contribution on her behalf.
She lives in accommodation provided by her employer and drives a company car. Her taxable benefits in kind during 2023-24 were £22,850.
Calculate the NICs payable by Joan and by her employer for 2023-24.
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Class 1 NICs for a director are calculated on an an...View the full answer
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