NIC cut offers welcome relief for employers - LITRG Press Release
The LITRG has welcomed the Chancellor’s announcement of a £2,000 cut in employers’ national insurance contributions for all businesses and charities from April 2014. This should make it easier and less expensive for new and growing businesses to take on new staff.
LITRG Chairman Anthony Thomas commented:
“These are times in which new and growing businesses risk being overwhelmed by administrative costs. For example, the Real-time Information (RTI) requirement, though worthwhile in itself, is almost certainly going to increase the cost burden on small businesses disproportionately, despite recent welcome concessions for the first six months of the operation of RTI. This allowance for employers paying NI contributions for their staff should help offset some of those impositions.
“We can only hope that the structure of universal credit for the self-employed, which is particularly burdensome in its present form, will be revisited in the light of the realisation of the importance of small business to the economy.
“We also sincerely hope that although this allowance will be operated through RTI, digitally excluded employers will be able to benefit from it as much as their more computer-savvy counterparts.”
Contact: Robin Williamson (please use form at http://www.litrg.org.uk/ContactUs)