The National Insurance Contributions Bill was introduced to the House of Commons earlier this month. It contains legislation for the Employment Allowance which will give businesses and charities a £2,000 tax cut off their National Insurance Contributions bill from April 2014.
This will greatly reduce the National Insurance contributions for small businesses. Over 90% of the benefit of this allowance will go to small businesses with fewer than 50 employees. Businesses will also 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.
Find out more about the Employment Allowance here.
