Employers to benefit from NIC Savings
The new Employment Allowance will see businesses, charities and community amateur sports clubs benefit from the annual reduction in their Class 1 secondary national insurance contributions (NICs).
More than 90% of those benefiting will be smaller businesses and approximately 450,000 companies will be taken out of paying Class 1 secondary NICs altogether.
Employers will be able to indicate that they wish to claim the allowance through standard payroll software or HM Revenue & Customs basic PAYE tools. They are some exemptions from the scheme so to find out more information click here.