11 March 2014
Taking tax off jobs for small businesses
News from Department for Business, Innovation & Skills and HM Treasury
From April 2014 every business and charity in the UK will be entitled to a £2,000 Employment Allowance to reduce their employer National Insurance contributions (NICs) bill each year.
The Employment Allowance will reduce the barriers faced by small businesses which aspire to grow by supporting businesses with the costs of employment.
Up to 1.25 million employers will benefit, with 98% of the benefit going to small businesses with fewer than 250 employees. As a result, 450,000 small employers will pay no NICs at all in 2014 to 2015.
The allowance will be available to businesses, charities and Community Amateur Sports Clubs. The process will be simple for businesses, which will only need to confirm their eligibility through their usual payroll process. It will be delivered through standard payroll software and HM Revenue and Customs' Real-Time Information system.
To find out more information on the Employer Allowance, click here.
Text from Gov.uk
