Income Tax and National Insurance contributions: treatment of termination payments
This tax information and impact note aligns the rules for tax and employer National Insurance contributions by making employer NICs payable on termination payments above £30,000.
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The measure aligns the rules for tax and employer National Insurance contributions (NICs) by making employer NICs payable on termination payments above £30,000.
Update
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 2020 rather than 6 April 2018.