Subscribe to our newsletter

Termination award tax change from April 2020

Rules set to come into force in 2020 will align the income tax and national insurance contributions (NICs) on termination awards and sporting testimonials, closing a current loophole, which allows effective tax planning.

Shared by Accountancy Daily
April 30, 2019

share this article

The National Insurance contributions (NICs) Bill introduces a simplification of the tax system reforming the current situation where termination awards and sporting testimonials are treated differently for income tax and NICs and was introduced into parliament on 25 April 2019.

Read more at the Accountancy Daily.

HMRC says it will offer online AO complaints service

Funding gap for women entrepreneurs hits £1.3tn

related articles

Labour and Conservatives pledge to ease burden on small business

Johnson drops corporate tax cut plan in bid to woo voters

FRC wants power to set audit fees

The economy is slowing - can central bankers fight the next downturn?

Small business community demands attention as polling day looms

Activists worry UK’s financial watchdog is losing its zeal

must reads

latest poll

Overall, how would you describe current conditions for your business?

View previous polls

recent comments

array(3) { [0]=> object(stdClass)#6300 (31) { ["id"]=> string(5) "22450" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "203.194.51.6" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(13) "15 hours ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(9) "Anonymous" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(41) "Hi David, please make sure you don’t..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(5) "22449" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "cb0ef936b52eaf69aa3d1c1b6ee37f7d" ["moderate_hash"]=> string(32) "d389aaf5ba17a410b3bb5c2ae34f033a" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(9) "Anonymous" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22450" ["overlayComment"]=> string(103) "Hi David, please make sure you don’t have an ad blocker running (either at browser level or server..." } [1]=> object(stdClass)#6289 (31) { ["id"]=> string(5) "22449" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "91.85.36.182" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(13) "20 hours ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(5) "David" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(43) "Hello, I can not access this webinar for..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(2) "-1" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "8906f8e35c618734b15ba8cc9d5d153b" ["moderate_hash"]=> string(32) "2ad1ceec304a37168932830ce808cfaa" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(5) "David" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22449" ["overlayComment"]=> string(53) "Hello, I can not access this webinar for some reason." } [2]=> object(stdClass)#6302 (31) { ["id"]=> string(5) "22448" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "203.194.51.6" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "5 days ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(4) "Maja" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(41) "Hi Tony, please click on the 'here' at..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(5) "22447" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "d5988e351310f6ea15e18e798d068aef" ["moderate_hash"]=> string(32) "a2c60c90351809596b68488b04205ee1" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(4) "Maja" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22448" ["overlayComment"]=> string(101) "Hi Tony, please click on the 'here' at the end of the above article and fill out the questionnaire..." } }