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First, the extension of the (employee and employer) Class 1 National Insurance contributions (NICs) charge to all PILONs, whether contractual or non-contractual, arises as a result of the extension of the list of amounts which are treated as earnings for income tax purposes (set out at regulation 22 of the Social Security (Contributions) Regulations 2001, SI 2001/1004). From 6 April 2018, this list is extended to include a new item (14), which covers termination payments taxable under section 402B of the Income Tax (Earnings and Pensions) Act 2003 (which will be introduced by Finance (No 2) Act 2017). See: The Social Security (Contributions) (Amendment No. 2) Regulations 2018, SI 2018/257, regulation 2.
Section 6 of the Social Security Contributions and Benefits Act 1992 states that Class 1 NICs are payable on ‘earnings’.
The explanatory notes to clause 5 of the second Finance Bill 2017 (as it then was),
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