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NIC Employment Allowance

The Chancellor announced the creation of a National Insurance Contributions (NIC) Employment Allowance in the 2013 Budget. This is expected to be introduced from 6 April 2014 and this moved a step closer to becoming law with the First Reading of the Bill on 14 October 2013.

Businesses, Charities and Community Amateur Sports Clubs will be able to reduce their Employer Class 1 NICs bill by up to £2,000 per year.

HMRC plan to release more details on how to claim the Employment Allowance in the New Year and we will keep you informed of developments.

Internet link: HMRC news



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