Data reveals businesses to benefit from new Employment Allowance
05 Nov 2013
New data released by the Government has revealed which UK regions and sectors will benefit from the new national insurance Employment Allowance, which comes into effect next year.
The new allowance will reduce the national insurance contributions (NICs) bill by up to £2,000 for many businesses, charities and Community Amateur Sports Clubs. Businesses will confirm their eligibility via their normal payroll process.
The data offers an analytical breakdown of the effect of the Employment Allowance across the UK’s regions and trade sectors.
The measure was announced in the 2013 Budget and is set to take effect from next April. It will benefit up to 1.25 million charities and 98% of the benefit is expected to go to small businesses with fewer than 250 employees, with 450,000 businesses being removed from the need to pay NICs altogether.
The Government’s breakdown of UK regions and sectors can be viewed here.