ARTICLE · 22 MAY 2013

Weekly Tax Update - Monday 13 May 2013

Smith & Williamson

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A summary of the most recent tax related developments.

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Smith & Williamson

1 GENERAL NEWS

1.1 Queen's Speech and National Insurance

The Queen's speech included an announcement concerning a National Insurance Contributions Bill, the main elements of which will be for:

reducing employer NICs bills each year by, from April 2014, entitling every business and charity to a £2,000 Employment Allowance;
extending the General Anti-Abuse Rule to NICs, reinforcing the Government's commitment to tackle abusive avoidance;
strengthening legislation to prevent the use of offshore employment payroll companies (intermediaries) to avoid employer NICs; and
removing the presumption for self-employment for limited liability partnership members.

www.gov.uk/government/uploads/system/uploads/attachment_data/file/197434/Queens-Speech-2013.pdf

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