NIC tax holiday set to launch

Cannon Moorcroft - Chartered Accountants, High Wycombe


	Home > > NIC tax holiday set to launch NIC tax holiday set to launch 1 September 2010 The government is preparing to launch its promised national insurance contribution holiday for start-up firms in certain areas of the UK. The putative date for the launch is 6 September, although it is understood that every detail of the necessary legislation has yet to be confirmed. Under the scheme, which is designed to help fledgling firms in regions that are economically hard pressed, new employers will not have to pay the first £5,000 of class 1 employer NICs due in the first twelve months of business. This will apply for each of the first 10 employees hired in the first year of trading. The scheme is due to run for three years, and firms that have set up since 22 June, when the measure was announced in the Budget, can claim for the tax breaks provided they meet the qualifying criteria. The countries and regions which will benefit will be Scotland, Wales, Northern Ireland, the North East, Yorkshire and the Humber, the North West, the East Midlands, the West Midlands and the South West. However, firms based in Greater London, the South East of England and the Eastern regions will be exempt from the relief. As will certain sectors such as agriculture, fishing and coal. News - Personal Tax 6 February 2012 Record number of self-assessment tax returns were filed on time 3 February 2012 Government under fire over latest tax avoidance scheme 2 February 2012 IFS argues for major Budget tax cut 27 January 2012 HMRC extends self-assessment deadline 27 January 2012 Clegg: Income tax threshold should rise to £10,000 faster News - Business Tax 3 February 2012 Government under fire over latest tax avoidance scheme 2 February 2012 IFS argues for major Budget tax cut 1 February 2012 'Corporation tax should be cut to 20% in 2012 Budget', says think-tank 18 January 2012 Government swoops on latest tax avoidance scheme 9 January 2012 HMRC record checks defy red tape reduction plans News - PAYE 31 January 2012 Employee earnings fall for a third decade 13 January 2012 HMRC must clarify how Real Time PAYE will affect small firms 5 January 2012 Just 10,000 firms sign up for national insurance holiday scheme 4 January 2012 Employers must explain pay freezes to prevent productivity going cold 22 December 2011 Government should provide tax breaks for medical insurance Financial Crisis - Government Initiatives 6 February 2012 HMRC business record checks halted 2 February 2012 SMEs to be given a helping hand to boost growth 26 January 2012 Government loses solar panel appeal 26 January 2012 Auto-enrolment pension dates confirmed 24 January 2012 Mediation pilot launched to reduce employment tribunals Financial Crisis - Effect on Small Business 6 February 2012 HMRC business record checks halted 3 February 2012 Policy maker accuses banks of failing businesses 2 February 2012 IFS argues for major Budget tax cut 2 February 2012 SMEs to be given a helping hand to boost growth 1 February 2012 Modern customers 'expect' digital interaction with companies, says research Spotlight - Credit Crunch 18 January 2012 Record levels of self-employed through necessity 9 December 2011 Bank keeps interest rates at 0.5% while Eurozone plot thickens 6 December 2011 Credit crunch caused surge in business closures 1 December 2011 Banks urged to bolster finances 20 October 2011 Retailers pin hopes on Christmas as inflation buoys sales Spotlight - Government Announcements 6 February 2012 HMRC business record checks halted 2 February 2012 SMEs to be given a helping hand to boost growth 24 January 2012 Mediation pilot launched to reduce employment tribunals 23 January 2012 Government launches business start-up and growth campaign 20 January 2012 Government moves to compromise on solar energy tariff

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