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NIC Act receives royal assent

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The National Insurance Contributions Act 2015 received royal assent on 12 February 2015. The Act includes legislation on collecting class 2 NIC through self-assessment, new information powers and accelerated payment of NIC in relation to promoters of tax avoidance schemes, and a targeted anti-avoidance rule for employment intermediaries and offshore employers.

HMRC has issued draft class 2 NIC regulations, The Social Security (Miscellaneous Amendments) Regulations, SI 2015/Draft, for a short technical consultation. Consequential amendments to existing legislation are to be made following the National Insurance Contributions Act 2015 gaining royal assent. See details and how to comment.