Leighton Reed, Director, MHA Broomfield Alexander
There have been a number of recent changes and potential updates to procedures involving National Insurance matters that you may find of interest. A brief summary follows.
National Insurance Contributions (NIC) allowance
This is applicable to private sector businesses, including charities and community amateur sports clubs. It will save these employers up to £2,000 of employer’s Class 1 NICs per year with effect from 6 April 2014. Note that there is only 1 employment allowance per group so organisations affected by this rule will need to determine which will claim. It has been introduced to boost small businesses.
Excluded employers include non charity public authorities, employers of personal or household employees, personal service companies regarding ‘deemed payments’ and business transfer cases.