Expiry of the Regional Employer NICs Holiday for New Businesses scheme

HMRC are reminding those who successfully applied for the Regional Employer National Insurance contributions (NICs) Holiday scheme that the scheme expired on 5 September 2013 and employer NICs payable on earnings due to be paid after that date will no longer benefit from the holiday, reports accountancy services Harris & Co.

HMRC’s "Employer NICs holiday - calculating and recording" guide provides information about calculating the employer NICs due as the scheme ends.

Those who were entitled to a credit for employer NICs relating to earnings paid in the period 6 April 2013 to 5 September 2013 but have not yet made a claim need to make sure that they submit an Employer Payment Summary (EPS) as soon as possible.

A final NICs Holiday end-of-year Return for 2013-14 (Forms E92 and E89), covering employer NICs withheld during the period 6 April 2013 to the scheme"s closure on 5 September 2013, will be sent out in March 2014.