national insurance holiday

Give National Insurance Holiday to More Firms, says FSB

Offering more firms a National Insurance holiday for taking on new staff would breathe fresh life into a faltering job creation scheme, the Federation of Small Businesses (FSB) has said. Since September 2010, first-year start-ups in certain regions have been allowed to claim up to £5,000 in National Insurance contributions (NICs) per employee for their first ten recruits. The three-year scheme is meant to boost private sector job creation outside London, the South East and the East of England. But take-up has been low. The holiday was introduced to compensate for the loss of public sector jobs in areas with low private sector job creation. The Government’s assessment indicated that 400,000 businesses would claim relief over the three years of the scheme, and they budgeted £940 ... »