independent

Thursday 17 April 2014

Employment Allowance boost to firms

From April 2014, all businesses and charities will be eligible for a new allowance, which will reduce their National Insurance contributions bill

The Chancellor has announced an Employment Allowance of £2,000 a year towards employer National Insurance contributions under moves to boost jobs.

George Osborne told MPs that the Government was taking tax off jobs, which would particularly help small businesses who wanted to hire their first employee or expand their workforce.

From April 2014, all businesses and charities will be eligible for the new allowance, which will reduce their National Insurance contributions (NICs) bill.

Up to 2.5 million employers will benefit, while 450,000 of the country's smallest businesses will no longer pay any employer NICs.

Employers with fewer than 10 members of staff will see their employer NICs bill cut by £805, said the Treasury.

Under the announcement, every business will be able to employ one worker on a salary of £22,400, or four employees on the minimum wage, without paying any employer NICs.

Press Association

Also in this Section

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Independent.ie on Twitter

More

Most Read

Independent Gallery

Your photos

Send us your weather photos promo

Celebrity News