Archives for October 2010

1. Holiday applies to the first 10 employees taken on in the first year of the new business.
2. The holiday period for each employee will last for the first year of his or her employment or a shorter period to 5 September 2013 when the scheme ends.
3. The maximum saving of NIC contributions for each employee will be limited to £5,000.
4. The NIC holiday is subject to a formal application to HMRC when you engage your first employee.
5. There are anti-avoidance provisions to prevent existing businesses from reorganising their affairs to qualify for the relief.
6. The NIC savings are limited to secondary employer’s contributions.
7. The principal place of business must not be in an excluded area (see full list below)

If you think you may be eligible for this new relief and would like our help applying to HMRC please call.

Excluded regions:

• Greater London
• Eastern Region comprising; the counties of Bedford, Cambridgeshire, Central Bedfordshire, Essex, Hertfordshire, Norfolk and Suffolk. The non-metropolitan districts of Luton, Peterborough, Southend-on-Sea and Thurrock.
• South East Region comprising; the counties of Buckinghamshire, East Sussex, Hampshire, the Isle of Wight, Kent, Oxfordshire, Surrey and West Sussex. The non-metropolitan districts of Bracknell Forest, Brighton and Hove, Medway, Milton Keynes, Portsmouth, Reading, Slough, Southampton, West Berkshire. Windsor and Maidenhead and Wokingham.