Driving Hastings forward 01424 205481
Posted by: In: Initiatives, Jobs 26 Mar 2014 Comments: 0 Tags: ,

The Government announced last year that it would introduce an employment allowance for all businesses, charities and Community Amateur Sports Clubs (CASCs) and this is going to be coming in to effect very soon.

From April 2014 every business and charity will be eligible for an “employment allowance”, which will give them a £2,000 tax cut off their National Insurance Contributions bill.

auto-enrolment

Employment Allowance of up to £2000 is available from April to those looking for new staff.

The Employment Allowance will reduce the cost of taking on new staff for small businesses; supporting those with an ambition to grow by hiring their first employee or expanding their workforce.

In practical terms this means that businesses will be able to employ four adults, or ten 18-20 year-olds, full-time on the National Minimum Wage without paying any employer National Insurance Contributions at all. Or, that a small business can pay an employee £22,400 without having to pay any jobs tax.

In Hastings alone this allowance will give around 7000 businesses a £2000 tax cut. Across the country it will mean that 450,000 small businesses—one third of all employers in the country—will pay no jobs tax at all. On average, employers with fewer than 10 employees over the course of the year will see their employer NICs bill reduced by 80 per cent.

For more information on the employment allowance and how your business can claim, visit –

https://www.gov.uk/employment-allowance-up-to-2000-off-your-class-1-nics