Class 4 NIC

[GL]

Dear All

An individual has an investment in a Film LLP, has a loan for the purpose of the investment and as a result pays interest.

I believe that the individual is able to gain tax relief by way of the interest being deducted from their total STI for the year.

With regard to Class 4 NIC, our tax package shows that it is calculated without reference to the loan interest paid (ie. Profits from the LLP x 1% - As there is a deferment in place)

I believe that this is correct but should appreciate anyones view on the matter.

Thanks