Attention Employers - Are you entitled to claim NICs back retrospectively?


Mitchell Charlesworth's Start-Up, Tax and Payroll experts are urging businesses who may qualify (but do not realise it) to benefit from the Government's National Insurance Contributions (NICs) 'holiday' before it's too late.

Crucially, employers can claim NICs back retrospectively right up until September 2013 if they were set up after 22 June 2010 and have not yet claimed for members of staff they employed in their first year of trading. We recently helped an employer claw back several thousand pounds, to which they did not realise they were entitled.

Cash Rebate

Under the measure introduced in Chancellor George Osborne's budget in June 2010, new businesses do not have to pay employers NICs of up to £5000 on the first 10 employees they hire in their first year of trading - a potential saving of £50,000. The NICs holiday is available to new businesses that start up and begin employing staff during the period from 22 June 2010 to 5 September 2013.

This is a very big tax break for entrepreneurs and it is vital to take full advantage of it. However, there are criteria to meet. For example, it is only available to firms set up outside London, the Southeast and East England and certain sectors have a limit on how much they can claim.

Mitchell Charlesworth is also ideally placed to help you take advantage of this NIC holiday as we have the combined knowledge of our Start-Up Experts, Tax Experts and Payroll Experts (in our Outsourced Payroll department) to call upon. This is a complete financial solution that many other accountants are unable to offer.

For more information on the NIC 'holiday', please do not hesitate to contact your local member of our Start-Ups Team today or complete a Quick Enquiry form before it gets too late.

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