188体育

Paragraphs 17聽and 18 of Schedule 4 to the聽Social Security Contributions聽Regulations聽 2001 (SSCR 2001) (SI 2001 No 1004)聽

The Finance Act 2009, Sections 101 and 102 (Interest on Late Payments and Repayments), Appointed Days and Consequential Provisions Order 2014

Late payment聽interest is only applied on聽any Class 1 contributions (primary and secondary)聽amount payable by an employer to HMRC and late repayment interest is only applied on聽any Class 1 contributions amount which fall to be repaid by HMRC to an employer.聽

There is no provision for repayment聽interest聽in respect聽of聽repayments of聽Class 1 NICs聽to anyone other聽than the employer. This means no repayment interest is payable with a refund of primary Class 1 NICs to an employee.聽

The rules for applying interest on late payment and late repayments of Class 1 NICs (earnings-related contributions) changed from the tax year 2014 to 2015.

For the tax year 2014 to 2015 and subsequent tax years, the Finance Act 2009, Sections 101 and 102 apply, see NIM07510.

For earlier tax years paragraphs 17聽and 18 of Schedule 4 to SSCR聽2001聽apply.

Interest rules remain unchanged for:

• Class 1A NICs -聽provided for by regulations 76 & 77 SSCR 2001
  
• Class 1B NICs - provided for by paragraphs 17 & 18 of Schedule 4 SSCR 2001