Expiry of the Regional Employer NICs Holiday for New Businesses scheme

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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.

 

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