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UK tax weekly: NICs, CGT and NMW changes from 6 April; VAT UT rulings; Pillar Two regulations; higher late-payment interest/penalties; devolution and pensions updates—3 April 2025

Published on: 03 April 2025

Published by a LexisNexis Tax expert
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  • Employment taxes
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  • VAT
  • International Taxes management and litigation
  • Companies and corporation tax
  • Anti-avoidance
  • Devolution
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Employment taxes

Royal Assent for National Insurance Contributions (Secondary Class 1 Contributions) Act 2025

The National Insurance Contributions (Secondary Class 1 Contributions) Bill—bringing in an uplift to 15% for the main rate of employers’ secondary Class 1 National Insurance contributions from 13.8%, and cutting the secondary threshold to £5,000 per annum—was first set out at Autumn Budget 2024 and obtained Royal Assent on 3 April 2025. The provisions apply from 6 April 2025. See: National Insurance Contributions (Secondary Class 1 Contributions) Act 2025.

HMRC publishes Employment Related Securities Bulletin 59 (March 2025)

  • Private Intermittent Securities and Capital Exchange System (PISCES)—policy update: HM Treasury will bring forward PISCES, a new venue for secondary dealing in private company shares, by statutory instrument in May 2025. PISCES will not be treated as a ‘recognised stock exchange’ for the purposes of section 1005 of the Income Tax Act 2007...

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