In order for Paperwrk Chasr to display the right data in your Dashboard or in your Financial Summary screens.
We use your personal Tax Code to help us calculate the amount of National Insurance you may need to pay to HMRC in your Self Assessment Return. This is estimated on Class 2 and class NICs in accordance to the HMRC website rates which is:
UK National Insurance (https://www.gov.uk/self-employed-national-insurance-rates)
- 9% on profits between £8,424 and £46,350
- 2% on profits over £46,350
Obviously, if you don't enter in a Tax Code we simply estimated based on 9% of the Invoice Value.