Pictured: John Harling
Too many new East Midlands businesses are missing out on
potential savings of up to £50,000 under the Government's
Regional Employer National Insurance Contributions (NIC) Holiday
scheme targeted at the region, says EDF Tax.
Commenting on the 3 year scheme, a consultant at EDF Tax in
Nottingham, John Harling explains: "Eligible businesses can take a
12-month 'NICs holiday' for each of the first 10 employees they
hire in their first year of operation, up to a maximum of
£5,000 per worker.
"Surprisingly, only 7,000 businesses have so far applied for the
HMRC scheme. This is a real opportunity for new and recently set up
business owners to reduce the cost of employing staff, so should
not be missed. Eligible businesses can even apply for a
refund of NICs that they have already paid.
"More businesses taking up the scheme also means more private
sector jobs are created, which offers a vital employment boost for
the regions identified by Government for the scheme in the
region."
HMRC has confirmed it will be writing to 144,000 new businesses
over the next few weeks, to encourage them to find out
more.
The scheme is open to new businesses set up on or after 22 June
2010 in the East Midlands, as well as the West Midlands, the North
East, Yorkshire and the Humber, the North West, the South West,
Scotland, Wales and Northern Ireland.
New businesses are urged to check HMRC's eligibility criteria
and application guidelines. More information or advice on applying
for the scheme can be obtained from John Harling on 07768446381 or
by email at jharling@edftax.co.uk.