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Syllabus C2. Income from employment and Class 1 NIC

Syllabus C2

Income from employment and Class 1 NIC 2 / 6

a) Identify assessable income 
    i) salaries
    ii) commissions 
    iii) bonuses
    iv) benefits.
b) Define and illustrate the basis of assessment for:
    i) directors 
    ii) others.
c) Identify the principal categories of deductions and illustrate their scope (no detail on pension contributions at this point)
    i) payroll giving
    ii) subscriptions
    iii) travelling expenses
    iv) expenses incurred wholly, exclusively and necessarily in the performance of duties.
d) Identify the information required on a P11D
e) Identify and calculate benefits.
f) Compute aggregate income 
    i) all income
    ii) benefits
    iii) expenses.
g) Identify source documents required to complete tax returns
    i) interest statements 
    ii) receipts for expenses 
    iii) Form P11D
    iv) Form P60.
h) Compute basic Class 1 National Insurance Contributions
    i) employees
    ii) employers (includingclass1A) 
    iii) weekly/monthly computations.
i) Understand the annual employment allowance.