Posted on 05/08/2013 3:55:32 AM PDT by markomalley
The new National Insurance Contributions Bill will waive the first £2,000 of National Insurance contributions for all companies, making it easier for them to take on new staff.
The move was first announced by George Osborne in the Budget earlier this year, as part of his plans to build a “aspiration nation” that supports small business and entrepreneurs.
Around 450,000 small businesses will not pay any National Insurance contributions. The tax is paid by both employers and staff, and they go towards paying for benefits such as the state pension.
The Government is hoping the “employment allowance” will encourage small businesses to take on extra workers, especially those that are starting up.
(Excerpt) Read more at telegraph.co.uk ...
Politicians always do the right thing (after they’ve exhausted all other possibilities).
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