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redmond-anita
Level 1

Hi. Does the estimated tax figure in the dashboard include class 2 and 4 national? Thanks, Anita

 
1 REPLY 1
Rea_M
Moderator

Hi. Does the estimated tax figure in the dashboard include class 2 and 4 national? Thanks, Anita

Hello there, @redmond-anita. Welcome to the Community.

 

When you've set up your Tax Profile in QuickBooks Self-Employed (QBSE), your National Insurance contributions (Class 2 and 4) should be calculated accordingly. The estimated tax figure in the dashboard shows the amount you will have to pay and that already includes the above-mentioned classes. Then, I'd recommend visiting the Taxes menu to get the break-down of your estimated taxes.

 

You're able to track National Insurance contributions, work-from-home deductions, and mileage in QBSE to help you during tax time. You can learn more about this through this article: Three tax calculations to help you at tax time.

 

Also, I'd recommend visiting this website to learn more about National Insurance contributions: Rates and allowances: National Insurance contributions. It includes topics about thresholds, rates, and classes, to name a few.

 

Let me know in the comments below if you have other concerns about managing your estimated taxes in QBSE. I'm just around to help. Take care always.

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