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Employer NICs on termination payments 10 November 2017
Class 1A employer National Insurance contributions (NICs) will be payable on termination payments above £30,000 from April 2019 (formerly April 2018).
On 2 November 2017 the government announced that the introduction of the National Insurance Contributions Bill will be delayed.
The introduction of employer NICs on termination payments above £30,000 will now take effect from 6 April 2019 rather than 6 April 2018.
This tax information and impact note has been updated to reflect the change.
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Employer NICs on income from sporting testimonials 10 November 2017
Class 1A employer National Insurance contributions (NICs) will be payable on Sporting Testimonial payments above £100,000 from 6 April 2019 (formerly April 2018).
On 2 November 2017 the government announced that the introduction of the National Insurance Contributions Bill will be delayed.
The introduction of employer NICs on Sporting Testimonial payments above £100,000 will now take effect from 6 April 2019 rather than 6 April 2018.
This tax information and impact note has been updated to reflect the change.
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Abolition of Class 2 NICs – draft legislation 9 November 2017
Following the government announcement that the abolition of Class 2 National Insurance contributions (NICs) has been delayed to 6 April 2019, draft legislation has been updated.
On 2 November 2017 the government announced a one year delay to the abolition of Class 2 NICs. Class 2 NICs will now be abolished from 6 April 2019 rather than 6 April 2018. The delay is to allow time for the government to engage with interested parties and Parliamentarians with concerns relating to the impact of the abolition of Class 2 NICs on self-employed individuals with low profits.
An updated tax information and impact note (TIIN) has also been published which advises that Class 2 contributions will be abolished and Class 4 contributions restructured to include a new threshold.
Background Class 2 National Insurance contributions (NICs) are flat-rate weekly contributions paid by the self-employed to gain access to contributory benefits.
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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