News

Good News if you Employ Yound People...

On the 6th April 2015 an NI break was introduced which specifically benefits those who employ anyone under 21 years of age.

Quite simply, employers will not have to pay the 13.6% Class 1 National Insurance. This will result in a direct saving of £500 on a salary of £12,000 per annum.

The government have made it clear that this incentive is to encourage the employment of younger people and was announced back in 2013 by George Osborne.

This may be a good time to see if you can hire a younger worker - as it will pay to do so! But it will also apply to any existing employees who are under 21.

The bad news is - your younger employee does not get the same tax breaks and will be subject to employee's NI contributions where appropriate.

Who said it was all on the side of the employee!