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FL Memo Ltd © 2007

Tax Memo 2007-2008 Newsletter Issue 1

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PBR news

 

 

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PAYE and NIC

 

NIC exemption and holiday pay

See TM ¶4980

From 30 October 2007, the current exemption from NIC which applies to holiday pay will be withdrawn.

However, for the construction industry (the original intended beneficiaries of this exemption) 

there will be a 5 year transitional period during which the exemption will remain.

 

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Text Box:  PBR news

PBR NEWS