Overview of the Structure of the Act
23.Sections 1 to 8 and Schedule 1 make provision for a £2,000 employment allowance for NICs.
24.Section 9 makes provision for an age-related reduction in secondary Class 1 NICs.
25.Sections 10 and 11 apply the GAAR to NICs and give the Treasury a power to make regulations for the purposes (in broad terms) of ensuring that the GAAR as it applies to NICs and the GAAR as it applies to tax are kept in line in the future.
26.Section 12 amends the power in section 120 SSCBA 1992 to allow the Treasury to make provision for, and in connection with, the issuing of certificates where payment had been made on behalf of the secondary contributor in respect of oil and gas workers on the continental shelf.
27.Section 13 provides a power to modify the way in which liabilities for Class 4 NICs of partners in firms are determined, where a provision of the Income Tax Acts relating to such partners is passed or made.
28.Section 14 will enable persons (including, in particular, LLP members) to be treated as employed in employed earner’s employment by an LLP for NICs purposes when certain conditions are satisfied. The conditions will follow those set out in income tax legislation to be introduced as part of Finance Act 2014 and will broadly be that the individual member of the LLP has no or little real economic interest or risk in the LLP and instead is rewarded by a fixed salary.
29.Sections 15 to 18 and Schedule 2 contain the four changes mentioned in paragraph 21 above.
30.Section 19 makes provision for the HMRC’s administrative expenses in relation to the provisions in this Act.
31.Section 20 defines abbreviations used in the Act.
32.Section 21 names the Act and makes provision about territorial extent.