Self Employed full 67 - Adjustments that reduce the amount of Class 4 NICs payable

There are adjustments that reduce the amount of Class 4 National Insurance contributions (NICs) payable such as cash basis adjustments, change in accounting adjustments, certain losses from earlier years and earnings as an employee which are included in your profits.

Self-isolation support payments are taxable, but you do not pay National Insurance contributions on the payment. If you received such a payment or payments, include the amount that you received in this box.

You must also include the payments in the 'Any other business income (including coronavirus support payments)' box.

For more information on self-isolation support payments, go to How to report self-isolation support payments.

If you made an entry in 'Adjustment for change of accounting practice' on the other tax adjustments page, the same figure is taken off your profits for Class 4 NICs purposes; include that adjustment here.

If your profit in 'Net business profit for tax purposes' on the other tax adjustments page, includes employment earnings, enter those earnings here.

Class 1 NICs are paid on employment earnings.

If you've any brought forward trading losses, of this business, that have not yet been set against profits chargeable to Class 4 NICs, you may also include them. Losses are allowable for Class 4 NICs in the same way as they are for tax. If you've incurred interest for the purposes of this business but did not take it off to arrive at your taxable profit, include it in here; it can reduce your Class 4 profit. Include any such interest for the tax year 6 April 2019 to 5 April 2020 and earlier years if it has not already been set against Class 4 profits.

For more information on Class 4 NICs adjustments, go to More than one business (Self Assessment helpsheet HS220).