NIC holiday
Posted on 24 Apr 2023
George Osborne has written to employers to make sure they know about the new £2,000 Employment Allowance which will be introduced on 6 April say Harris & Co accountants Northampton
The letter encourages businesses to take advantage of the opportunity to claim the new allowance, which it says is effectively ‘a cashback on jobs to support businesses’, and provides instructions on how to do so.
It says 1.25 million employers will benefit from this new allowance, with a third of employers not requiring to pay any National Insurance at all.
Although this allowance will be available to all employers, the letter specifically addresses small businesses described by the Chancellor as ‘the lifeblood of the economy’. He said:
‘I want to make it easier for you [small businesses] to succeed and grow. So whether you are looking to purchase a new piece of equipment or technology, aspiring to take on your first employee or take on an extra member of staff, the Employment Allowance will offer you extra support.’
