New Dorset businesses benefit from NIC saving

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As announced in the second Budget this year, qualifying employers can from 6 September until 5 September 2013 save up to £5,000 of National Insurance (NIC) for each of their first ten employees.

The benefit is restricted to regions and excludes Greater London, the South East including Hampshire and the East of England. The good news is that employers in Dorset are able to benefit from this NIC holiday.

To qualify the business must have started since Budget day on 22 June 2010. Anyone who has carried on a similar business in the previous 6 months to starting the new company will not qualify for the holiday. Nor will any business that takes on the activities of an existing company through a transfer.

Employees include directors and part timers, even if they earn less than the secondary NIC threshold (currently £110 per week).

Once the employer has taken on its first 10 employees, no other employees will qualify even if any of the first 10 employees leave.

There are a number of other rules that must be applied to ensure the NIC holiday is dealt with correctly. It is important that advice is sought before any action is taken.

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