United Kingdom Upper House Passes Bill to Amend National Insurance Contribution Provisions on Employer Pensions

The United Kingdom House of Lords March 12 passed Bill No. 408, the National Insurance Contributions (Employer Pensions Contributions) Bill, with amendments. The bill includes measures to: 1) exempt basic rate taxpayers in England, Wales, and Scotland from Class 1 National Insurance Contribution (NIC) liability on employer pension contributions made under salary sacrifice arrangements; 2) apply a primary and secondary Class 1 NIC charge if employer pension contributions by employers that aren’t small and medium-sized enterprises (SMEs) or specified entities are made through salary sacrifice arrangements that exceed 5,000 British pounds (US$6,670) per year, from April 6, 2029; 3) exempt ...