Policy paper
National Insurance (Termination Awards and Sporting Testimonials) Bill – Factsheet
On 25 April 2019, The Government introduced the National Insurance (Termination Awards and Sporting Testimonials) Bill to Parliament.
Documents
Details
The Bill introduces an important simplification of the tax system that helps to more closely align the Income Tax and National Insurance contributions treatment of termination awards and sporting testimonials. Currently, the fact that termination awards and sporting testimonials are subject to different Income Tax and National Insurance contributions treatment creates confusion.
This document sets out further detail on the changes being made by this legislation.
The National Insurance contributions (Termination Awards and Sporting Testimonials) Act 2019 received Royal Assent on 24 July 2019.
Published 29 April 2019