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Tuesday 20 March 2012

Were All Going On A NI Holiday - Apparently Not!

According to government figures, small businesses are failing to take advantage of a NI tax break, given to new businesses who employ staff. The relief means no employer NI contributions need to be payable for 12 months. This isn't available nationally, only in certain areas.
It is available in Leicester. The government were expecting 132,000 to take advantage of this scheme, but only 5000 have done so. There seems to be a lack of awareness of the scheme, and I certainly find this to be the case in my experience. Businesses do have to apply for this relief, it isn't automatically given.

See link for further details.
http://www.hmrc.gov.uk/paye/intro/nics-holiday/eligibility.htm

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