30 November 2011 | Uncategorized
The Regional Employer National Insurance Contributions (NICs) Holidayoffers big reductions in employer NICs for new businesses who employ staff and meet certain criteria in specific regions. The scheme is open to new businesses set up on or after 22 June 2010 in the North East, Yorkshire and the Humber, the North West, the East Midlands, the West Midlands, the South West, Scotland, Wales and Northern Ireland. Eligible new businesses can apply for a refund of NICs that they have already paid.
The NICs holiday scheme is designed to encourage the creation of private sector jobs in regions reliant on public sector employment by reducing the cost to new business of employing staff.
Under the three-year scheme, eligible businesses can take a 12-month ‘NICs holiday’ for each of the first 10 employees they hire in their first year of business, up to a maximum of £5,000 per employee. This means new businesses who take advantage of the scheme could save up to £50,000 in total.
We are automatically lodging applications for all clients who are eligible, and we will notify you of the saving nearer the time.
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