The National Insurance Contributions Bill was introduced into Parliament on 17 July 2014. The draft Bill includes legislation relating to the following main measures:
The National Insurance Contributions Bill was introduced into Parliament on 17 July 2014. The draft Bill includes legislation relating to the following main measures:
Simplifying the collection of NICs paid by self-employed;
Accelerating payment in avoidance cases;
Applying new information powers and penalties to high-risk promoters (mirroring the income tax rules in the Finance Act); and
A targeted anti-avoidance rule for employment intermediaries.
Additionally, HMRC has published a tax information and impact note on accelerated payments of NICs. This measure will have effect two months after the National Insurance Contributions Bill 2014 receives royal assent.
HMRC will be able to issue an accelerated payment notice when NIC arrangements are subject to a follower notice, fall to be disclosed under DOTAS, or are conteracted under the GAAR.
Finally, HMRC has published a tax information and impact note explaining how the mechanism for collecting Class 2 NICs will be amended to allow the self-employed to pay Class 2 NICs through self-assessment with income tax and Class 4 NICs. The measure, which will be introduced in the National Insurance Contribution Bill 2014, will have effect from April 2015.
The National Insurance Contributions Bill was introduced into Parliament on 17 July 2014. The draft Bill includes legislation relating to the following main measures:
The National Insurance Contributions Bill was introduced into Parliament on 17 July 2014. The draft Bill includes legislation relating to the following main measures:
Simplifying the collection of NICs paid by self-employed;
Accelerating payment in avoidance cases;
Applying new information powers and penalties to high-risk promoters (mirroring the income tax rules in the Finance Act); and
A targeted anti-avoidance rule for employment intermediaries.
Additionally, HMRC has published a tax information and impact note on accelerated payments of NICs. This measure will have effect two months after the National Insurance Contributions Bill 2014 receives royal assent.
HMRC will be able to issue an accelerated payment notice when NIC arrangements are subject to a follower notice, fall to be disclosed under DOTAS, or are conteracted under the GAAR.
Finally, HMRC has published a tax information and impact note explaining how the mechanism for collecting Class 2 NICs will be amended to allow the self-employed to pay Class 2 NICs through self-assessment with income tax and Class 4 NICs. The measure, which will be introduced in the National Insurance Contribution Bill 2014, will have effect from April 2015.
