Specialist Tax News

NICs Holiday For Some Employers

We now have full details of the promised scheme which lasts until 5 September 2013. If you start a new business outside Greater London, the South East and the Eastern regions of the UK, you should qualify for a holiday from employer national insurance contributions.

The holiday scheme applies to the first 10 qualifying employees that a new business employs in its first year of business, with a maximum saving of £5,000 in employer NICs in respect of each employee. It is available to new businesses in the form of incorporated businesses, sole traders and partnerships. It includes new trades, professions or vocations and also new charities that are trading as well as property and investment businesses.

We will be pleased to advise you fully by reference to your particular circumstances.

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