National Insurance

 


The National Insurance Contributions (Termination Awards and Sporting Testimonials) Bill has passed its first hurdle in the House of Lords, gaining a second reading and being committed to a Committee of the Whole House

The National Insurance Contributions (Termination Awards and Sporting Testimonials) Bill completed its passage through the House of Commons this week. The Bill will introduce a limited class 1A employer charge on termination payments over £30,000 and on payments over £100,000 related to non-contractual sporting testimonials.

A committee of MPs passed the National Insurance Contributions (Termination Awards and Sporting Testimonials) Bill without amendment on Tuesday (May 14th), including an evidence session with witnesses from CIOT among others.

MPs have given a second reading to a Bill which makes changes to the national insurance treatment of payments relating to the termination of employment and testimonials held for sports people.