What is a NIC joint election?
A. A joint NIC election is a document which, when formal approval has been given by HMRC, allows the employer’s secondary Class 1 NICs liability arising on relevant employment income from securities options, restricted and convertible securities to be legally transferred to the employee acquiring those securities. The amount transferred can be: • the full amount of the employer’s liability on that gain or • a percentage of the total employer’s liability due on that gain or • a specific amount of the employer’s liability due on that gain.
