National Insurance Contributions Bill 2014 – The Draft

The National Insurance Contributions Bill was introduced into Parliament on 17 July 2014.
This is known as the first reading and there was no debate on the Bill at this stage.

If the bill passes second reading and is committed to a public bill committee, the membership of the committee will be published in Votes and Proceedings and posted on the Parliament page under ‘Commons Public Bill Committee’.

The draft Bill includes legislation relating to the following main measures:

– simplifying the collection of National Insurance Contributions (NICs) paid by the self-employed
– accelerating the payment to the Exchequer of amounts of NICs in dispute in avoidance cases
– applying new information powers and penalties to high-risk promoters of avoidance
– a Targeted Anti Avoidance Rule to prevent people from circumventing new legislation tackling avoidance involving employment intermediaries and offshore employers.

If you would like to read the draft Bill, follow the link: http://www.publications.parliament.uk/pa/bills/cbill/2014-2015/0080/15080.pdf

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