Consultation on draft regulations to report and pay Class 1A National Insurance contributions on termination awards and sporting testimonials
16 October 2019
HMRC has published a technical consultation on draft regulations that will enable employers and testimonial committees to report and pay Class 1A National Insurance contributions on termination awards and sporting testimonials in real-time. The draft legislation relates to technical procedures for how Class 1A employer NICs will be submitted through Real Time Information (RTI) and how it will be paid across to HMRC from April 2020 onwards, when the new rules come into force.
The CIPP policy team will be studying the consultation and may publish a survey depending on the contents to gather the views of payroll professionals and others with a vested interest. Please keep an eye out on News Online for your opportunity to express your invaluable views.
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