Employers have received a beautifully wrapped pre-Easter boost.
They can now claim back up to £2,000 per tax year from their employers’ Class I National Insurance.
This Employment Allowance is intended to offer a ‘no strings attached’ benefit encouraging companies to increase their staff numbers.
Client Payroll Manager Sue Howie said – “The change came into force on April 6 and triggered many enquiries to our Payroll department.
In simple terms it offers a small reduction in Class 1 NICs if you are a business or charity.
There are some exclusions but most companies will benefit.
Companies not employing a Payroll service such as Barringtons will need to claim using their own software.
They will need to reduce their employer Class 1 NICs payment by an amount of Employment Allowance equal to their Class 1 NICs due, but not more than £2,000 a year.”
Barringtons has an expert Payroll team on hand to help employers with this and all manner of payroll functions.
Call Sue Howie on 01782 713700.