Market leading insight for tax experts
View online issue

NICs treatment of termination payments

printer Mail

The government has confirmed that delayed introduction of the NICs bill means employer NICs on payments above £30,000 will not now apply until 6 April 2020.

The government has confirmed that delayed introduction of the NICs bill means employer NICs on payments above £30,000 will not now apply until 6 April 2020.

Legislation introduced in Finance (No.2) Act 2017 aligned the rules for income tax and employer NICs by making an employer liable to pay NICs on any part of a termination payment they make to an employee that exceeds the £30,000 threshold. For income tax, the measure has effect from 6 April 2018.

See bit.ly/2mf8c42.

EDITOR'S PICKstar
Top