Employers NIC Holiday

You may have heard about a new scheme that has been set up by HMRC recently, where new business may qualify for a reduction in their Employers National Insurance Contributions.

Under this new scheme, for a limited period and subject to certain conditions, new businesses may qualify for a reduction of up to £5000 from the Employers NICs that would normally be due for each of the first 10 employees, meaning a potential saving of £50.000

Only businesses that commenced trading between 22/06/2010 and 05/09/2013 are eligible for the scheme, however the scheme itself didn’t start until 06/09/2010 so you can only deduct employers NICs due after that date, but before 05/09/2013.

There are numerous other qualifying conditions that apply such as geographical location, so please visit http://www.hmrc.gov.uk/paye/intro/nics-holiday/eligibility.htm or www.businesslink.gov.uk/nicsholiday for further information and instructions on how to complete the online application form