National Insurance Contributions repayment interest
12 May 2014
Regulations have been published and came into effect on 6 May 2014 regarding the NICs repayment interest provisions arising from Section 101 and 102 of the Finance Act 2009.
These Regulations amend the Social Security (Contributions) Regulations 2001 (S.I. 2001/1004) (“the principal Regulations”) which make provision for the assessment, charge, collection and recovery of national insurance contributions. Regulation 1 provides that these Regulations have effect in relation to amounts which are due and payable in respect of the tax year 2014-15 and subsequent tax years.