NICs to be deducted from all termination payments from April 2020


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.

https://services.parliament.uk/Bills/2017-19/nationalinsurancecontributionsterminationawardsandsportingtestimonials.html


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