This is a technical consultation on draft regulations that will mainly be of interest to employers, businesses, sporting testimonial committees and their advisors.
These regulations will enable HMRC to collect and report the Class 1A National Insurance contributions (NICs) due on termination awards above £30,000 and on payments arising from non-contractual and non-customary sporting testimonials above £100,000 created in the National Insurance contributions (Termination Award and Sporting Testimonials) 2019 Act.
These draft regulations set out how the new Class 1A Employer NIC charge will be reported and collected in real time through PAYE.
On this page, you can read:
- the draft regulations
- a technical overview of the regulations
The legislation is intended to take effect from 6 April 2020.
Ways to respond
National Insurance contributions,
100 Parliament Street,