Reduce payroll costs with Employment Allowance
15 Oct 2014 | Category: HMRC, Money, Payroll, SME's
HMRC are helping businesses save up to £2,000 a year through the Employment Allowance scheme.
Did you know you could get £2000 a year off your National Insurance bill if you’re an employer?
The allowance will reduce your employers’ class 1 national insurance each time you run your payroll until the £2,000 has gone or the tax year ends (whichever is sooner.)
You can claim Employment Allowance if you’re a business or charity paying class 1 national insurance.
You can’t claim if you are a:
· Domestic employer who employs someone for household, personal or domestic work (nanny, gardener or care support worker)
· Public body or business whose work is wholly or mainly of a public nature (eg local councils) unless you are a charity
How to claim:
Claim Employment Allowance through your payroll software
When to claim:
You can claim any time through the tax year but you must claim before 5 April 2015.
Make sure you don’t miss out!
Find out more:
Lisa Eastwood – Finance Manager