Partnerships

Class 4 contributions: partnerships
13
1
SSCBA 1992 is amended as follows.
2
After section 18 insert—

Class 4 contributions: partnerships
18A
1
The Treasury may by regulations—
a
modify the way in which liabilities for Class 4 contributions of a partner in a firm are determined, or
b
otherwise modify the law relating to Class 4 contributions,
as they consider appropriate to take account of the passing or making of a provision of the Income Tax Acts relating to firms or partners in firms.
2
“Firm” has the same meaning as in the Income Tax (Trading and Other Income) Act 2005 (and includes a limited liability partnership in relation to which section 863(1) of that Act applies); and “partner” is to be read accordingly and includes a former partner.
3
Regulations under this section may have retrospective effect; but they may not have effect before the beginning of the tax year in which they are made.
3
In section 176(1)(a) (parliamentary control: instruments subject to affirmative procedure), after “section 18;” insert—
- section 18A;
.
4
SSCB(NI)A 1992 is amended as follows.
5
After section 18 insert—

Class 4 contributions: partnerships
18A
1
The Treasury may by regulations—
a
modify the way in which liabilities for Class 4 contributions of a partner in a firm are determined, or
b
otherwise modify the law relating to Class 4 contributions,
as they consider appropriate to take account of the passing or making of a provision of the Income Tax Acts relating to firms or partners in firms.
2
“Firm” has the same meaning as in the Income Tax (Trading and Other Income) Act 2005 (and includes a limited liability partnership in relation to which section 863(1) of that Act applies); and “partner” is to be read accordingly and includes a former partner.
3
Regulations under this section may have retrospective effect; but they may not have effect before the beginning of the tax year in which they are made.
6
In section 172(11A) (parliamentary control: instruments subject to affirmative procedure), after “18,” insert “18A,”.
7
The amendments made by this section come into force at the end of the period of 2 months beginning with the day on which this Act is passed.