News

Wednesday 15th March 2017

Employers Allowance

Employment Allowance

There is good news for employers taking advantage of the Employment Allowance as it’s increasing from £2,000 per year to £3,000 per year for 2016/17. This means that your employers’ national insurance bill will be reduced by £3,000 for the year (£2,400 after Corporation Tax Relief)
If you are about to process payroll for your company for the first time this tax year, you just need to ensure you tick the correct box in your payroll software to confirm you wish to claim the allowance.
Unfortunately, there will be a new restriction which prevents it being claimed by any companies with a single director and no other paid employees.