Section 5: Provision in consequence etc of tax-only changes to Part 4 or 5 of FA 2014
143.Subsection (1) provides that where there has been a change to Part 4 or 5 of FA 2014 (follower notices, accelerated payments and promoters of tax avoidance schemes) that does not apply in relation to NICs (“the tax only modification”), the Treasury may make regulations to apply the tax only changes to NICs with or without modification, make provision for NICs that corresponds to the tax only modification or make consequential changes to that Part of FA 2014 in relation to its effect on NICs or changes that are supplementary or incidental to the tax only modification.
144.Subsection (2) makes further provision as to the regulations that may be made under this power. The regulations can amend other legislation, make consequential, incidental, supplementary, transitional, transitory or saving provision and make different provision for different cases, purposes or classes of NICs.
145.Subsection (3) requires the regulations to be made by statutory instrument.
146.Subsection (4) provides that a statutory instrument containing, with or without other provision, regulations that amend or repeal a provision of an Act is subject to the affirmative procedure. Any other statutory instrument made under this section is subject to the negative procedure (see subsection (5)).
147.Subsection (6) defines “national insurance contributions” for the purposes of the section.
148.Subsection (7) specifies that this section comes into force at the end of the period of two months beginning with the day on which the Act receives Royal Assent (12 April 2015).
