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.
National Insurance cut for small businesses