The National Insurance Contributions Act 2014 (c. 7) is an act of the Parliament of the United Kingdom that received royal assent on 13 March 2014, after being introduced on 12 October 2013. The act entitled employers to an allowance up to £2,000 against their National Insurance Contributions liability for a tax year.[2]
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| Long title | An Act to make provision in relation to national insurance contributions; and for connected purposes. |
|---|---|
| Citation | 2014 c. 7 |
| Introduced by | George Osborne 14 October 2013 |
| Territorial extent | United Kingdom |
| Dates | |
| Royal assent | 13 March 2014 |
| Commencement | Various (13 March 2014 - 6 April 2015)[1] |
Status: Current legislation | |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
Overview
editThe act created an employment allowance for up to £2,000[3] or an amount equal to the total liabilities to pay secondary Class 1 national insurance contributions (NICs) if lower,[4] for any person or company paying secondary Class 1 NICs for one for more employees,[5] subject to some exceptions.
The allowance specifically does not apply to public authorities,[6] employers employing a person for purposes connected with the employers personal affairs,[7] service companies[8] or where a businesses has been transferred during the tax year.[9] Where two companies are connected under common control then only one of the companies may claim the allowance.[10]
The allowance is designed to be claimed as a deduction from payments due to Her Majesty's Revenue and Customs (HMRC).
See also
editReferences
edit- ^ "National Insurance Contributions Act 2014 - Commencement Dates". The Stationery Office. Retrieved 23 August 2014.
- ^ "National Insurance Contributions Act 2014 - Legislation PDF" (PDF). The Stationery Office. Retrieved 23 August 2014.
- ^ National Insurance Contributions Act 2014: Section 1, Paragraph 2(a)
- ^ National Insurance Contributions Act 2014: Section 1, Paragraph 2(b)
- ^ National Insurance Contributions Act 2014: Section 1, Paragraph 1
- ^ National Insurance Contributions Act 2014: Section 2, Paragraph 1
- ^ National Insurance Contributions Act 2014: Section 2, Paragraph 3
- ^ National Insurance Contributions Act 2014: Section 2, Paragraph 4
- ^ National Insurance Contributions Act 2014: Section 2, Paragraph 6
- ^ National Insurance Contributions Act 2014: Section 3, Paragraph 3