MP says Basildon and Billericay businesses could get a tax cut of up to £2,000
Next month businesses throughout the country will see a cut in their National Insurance bill of up to £2,000 due to the Employment Allowance. Small business will feel the most benefit, as 90% will go to businesses which employ fewer than 50 people. 450,000 small businesses will stop paying National Insurance contributions altogether.
HMRC has recently published guidance setting out how businesses can obtain the allowance, but many will simply need to tick the box on their payroll software. For further information, please see the ‘Notes to Editors’.
John said,
“This is excellent news for small businesses in Basildon and Billericay, and for over a million businesses across the country. Small and Medium enterprises are the lifeblood of our economy, and are essential to our overall recovery. I urge them to take advantage of this new allowance.”
- For more detailed information from HMRC, please see: www.gov.uk/employment-allowance-up-to-2000-off-your-class-1-nics.
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