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Feb. 5—Employers with payrolls over 3 million pounds ($4.35 million) will be subject to a 0.5 percent payroll tax beginning April 6, 2017, to fund a new government apprenticeship program, according to draft legislation released Feb. 4 by HM Revenue & Customs (HMRC).
First announced in 2015, the draft legislation details that employers will be given an allowance of 15,000 pounds ($21,735) to offset the new payroll tax to be collected through the Pay-as-You-Earn system in the 2017-2018 tax year.
The payroll amount on which the tax is to be calculated is defined in the draft legislation as earnings on which the employer has a liability to pay Class 1 National Insurance contributions or would have had such a liability if the secondary threshold that applies for National Insurance contributions was disregarded.
The draft legislation also covers measures on anti-avoidance, collection, recovery, penalties and appeals in relation to the new tax.
The final legislation is expected to be introduced in Finance Bill 2016 but comments on the draft legislation should be received by HMRC by March 2, 2016, HMRC said.
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The draft legislation and consultation information is available at https://www.gov.uk/government/publications/apprenticeship-levy.
More information on payroll issues in the U.K. can be found in U.K. country primer.
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