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21 February 2014
A new government scheme, commencing on 6 April 2014 titled Employment Allowance, will allow businesses and charities to reduce their employers Class 1 National Insurance contributions (NICs) by up to £2,000 per tax year.
The allowance has been introduced to help boost employment across the UK economy with a specific aim towards small businesses and helping to reduce employment costs.
The scheme entitles businesses to a saving of £2,000 from their National Insurance bill for the forthcoming tax year and is to be implemented through the payroll scheme.
Haleys Payroll manager Joanna Ramsdale said: “The scheme has not received much publicity and the government have not released the full details. However at the moment it is understood that each small business will receive a boost of £2,000 off their national insurance bill.”
“This is a good incentive for small businesses to help boost employment levels across the economy.”
You can contact Joanna regarding the allowance and how to ensure your business is eligible at firstname.lastname@example.org or 01772 741200.
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