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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Employment Allowance (Increase of Maximum Amount) Regulations 2020 URL: http://www.bailii.org/uk/legis/num_reg/2020/uksi_2020273_en_1.html |
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This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Regulations made by the Treasury, laid before Parliament under section 5(6) of the National Insurance Contributions Act 2014, for approval by resolution of each House of Parliament within forty days beginning with the day on which the Regulations were made, subject to extension for periods of dissolution, prorogation or adjournment for more than four days.
Statutory Instruments
Social Security
Made
11th March 2020
Laid before Parliament
12th March 2020
Coming into force
6th April 2020
The Treasury make these Regulations in exercise of the power conferred by section 5(1)(a) of the National Insurance Contributions Act 2014(1).
1. These Regulations may be cited as the Employment Allowance (Increase of Maximum Amount) Regulations 2020 and come into force on 6th April 2020.
2. In section 1(2)(a)(2) of the National Insurance Contributions Act 2014 (employment allowance for national insurance contributions), for "£3,000" substitute "£4,000".
Maggie Throup
Iain Stewart
Two of the Lords Commissioners of Her Majesty's Treasury
11th March 2020
(This note is not part of the Regulations)
These Regulations amend the National Insurance Contributions Act 2014 (c.7) ("the Act"). Persons who incur liabilities to pay secondary Class 1 National Insurance contributions during a tax year are entitled under section 1 of the Act to claim an allowance, known as the "employment allowance", which they can deduct from their payments in respect of these liabilities. Regulation 2 amends section 1(2)(a) of the Act so as to increase the maximum amount of the employment allowance from £3,000 to £4,000 for the tax year 2020-21 and subsequent tax years.
A Tax Information and Impact Note covering this instrument will be published on the HMRC website at http:/www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.
The figure in section 1(2)(a) was substituted by S.I. 2016/63.