Our website uses cookies to enhance the visitor experience (what's a cookieCookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.). Are you happy for us to use cookies during your visits?
Please note: continuing without making a choice equates to giving us your consent, which you can withdraw at any time via our cookies policy page.

We understand that your business
never stands still. It's constantly
growing and shifting - and we're
prepared to move with you.

Working with us means you always
have the firepower you need
- a qualifed team of professionals
working for you and your business.

We know that not everyone is the
same. We tailor our approach
to each individual client to
ensure their needs are met.

Has your business lost its way?
We will show you which direction
to take and make sure you
stay on the right track.

HMRC launch consultation on NIC holiday for veterans

Newsletter issue - September 2020.

The Government currently provides a career transition package to service personnel leaving the Armed Forces which supports around 86% into employment. However, 6% of veterans using the service remain unemployed up to a year after leaving. The Government made a manifesto pledge to back veterans, by scrapping employer National Insurance Contributions (NICs) for a full year for every new employee who has left the Armed Forces. This policy is now being developed and is expected to take effect from April 2021.

HMRC have launched a consultation entitled Supporting veterans' transition to civilian life through employment, which examines the NIC holiday for veterans announced at Spring Budget 2020. The consultation seeks views on a range of issues and, where appropriate, the Government's preferred approach to the design and implementation of the policy. The consultation runs until 5 October 2020.

Broadly, the new measure will introduce a Secondary Class 1 employer NICs relief on the wages of veterans for the first 12 months of their civilian employment and will be available to employers from April 2021.

To claim back the employer NICs paid on the salaries of eligible veterans employed between April 2021 and March 2022, employers will be able to make a claim to HMRC from April 2022. From this point onwards, employers will be able to claim the relief in real time through PAYE.

Further information can be found at https://www.gov.uk/government/consultations/supporting-veterans-transition-to-civilian-life-through-employment.

 

Request a Callback

Book a Free Consultation

Get a Fixed Quote

Find out how to Make more, Keep more and Work less

 

 

Our Clients

We have helped so many businesses over the years. Here are just a few...