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SEISS and Class 4 NIC

Will SEISS grants received be subject to Class 4 NIC?

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Does anyone know, or can anyone hazard a guess?  When grant income received is declared on the 2020/21 tax return, will it be subject to 20% tax only, or additionally to Class 4 NIC? Thanks in advance!

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the sea otter
By memyself-eye
29th Dec 2020 20:32

Class 4 depends on your profits (income+grant-expenses)

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By songb1rd
29th Dec 2020 20:46

Memyself-eye

That I understand...

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RLI
By lionofludesch
29th Dec 2020 21:05

It was made clear that the grants would be included in income potentially subject to Class 4 NI.

Usual rules - upper and lower limits, age exemption etc etc.

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Replying to lionofludesch:
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By Michael Davies
31st Dec 2020 13:32

Doesn’t make it right though does it ? NIC is payable on paid work undertaken,give or take .Bit sneaky of Sunak.

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Replying to Michael Davies:
RLI
By lionofludesch
31st Dec 2020 13:50

Not for me to comment. I'm too old for NIC.

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RLI
By lionofludesch
29th Dec 2020 21:06

.

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By songb1rd
29th Dec 2020 23:41

Yes, I suspected that was the case. Thanks, Lionofludesch

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