New businesses outside of London, the South East and East of England can start claiming a holiday from NIC contributions for their first 10 employees starting from Monday 6 September until 5 September 2013.

The Regional Employer National Insurance contributions Holiday for New Businesses, to give it the official name, was unveiled by Chancellor George Osborne’s June Budget and will allow new employers to make a deduction against the amount of Class 1 NICs they pay each month or quarter. The holiday will apply to the first 10 “qualifying employees” taken on by companies that started after 22 June Budget statement.

An HMRC Technical Note sets out the detailed conditions attached to the holiday, which will apply during the employees’ first year with the firm or until they leave, and will be limited to £5,000 for each employee.

For more information please call us.