Bloomberg Tax
March 17, 2023, 5:00 AM

United Kingdom Lower House Considers Statutory Instrument to Amend Social Security Regulations Concerning NICs

The United Kingdom House of Commons March 14 accepted for consideration Statutory Instrument No. 309/2023, to amend social security contribution regulations concerning National Insurance Contribution (NIC) payments. The regulations include measures that would: 1) extend the deadline to July 31 from April 5, for Class 2 and Class 3 voluntary NIC payments for tax years 2006-07 to 2016-17; 2) apply tax year 2022-23 amounts payable to these voluntary NICs paid up to the extended deadline; and 3) allow Class 2 and Class 3 voluntary NICs for tax years 2017-18 to 2021-22 that would be subject to higher amounts between April ...