top of page

NICs to be deducted from all termination payments from April 2020

  • Writer: Carl Redgrove
    Carl Redgrove
  • Jul 26, 2019
  • 1 min read

As the law stands at the moment, only income tax is deducted from the balance of a termination payment above £30,000.

From the 6 April 2020 it is proposed that employers National Insurance contributions on termination payments which are taxable for income tax and exceed £30,000 will become law.


 
 
 

Comments


bottom of page