Stockport based Booth Ainsworth are advising that the amendments to Employer Allowance will encourage businesses to invest in new people.
From 6th April 2014 employers can claim the Employment Allowance and reduce the employer Class 1 National Insurance contributions (NICs) if they are a business or a charity that pays employer Class 1 NICs on your employees’ or directors’ earnings.
Dawn Foden-Smith, Tax Specialist at Booth Ainsworth said:
“If your business belongs to a group of companies or your charity is part of a charities structure, only one company or charity can claim the allowance. It is up to you to decide which company or charity will claim this.
“You can only claim the £2,000 Employment Allowance against one PAYE scheme – even if your business runs multiple schemes”.
There are a small number of excluded employer e.g;
- If you employ domestic household staff;
- If you carry out functions of a public nature, eg. NHS services.
You can use your own payroll software to make your claim or if you use a Bureau such as ours we will apply this for you automatically, if you are eligible.
For more information contact Booth Ainsworth