start-up tax exemption

Start-up Tax Exemption Must be Extended Nationwide, urges FSB

The exemption on employees’ National Insurance Contributions (NICs) for start-ups, announced in the emergency Budget, should be extended to new businesses in the South East and East of England, the Federation of Small Businesses (FSB) has said. Chancellor George Osborne announced the tax break in the June Budget to encourage start-ups in regions where the private sector is not strong. “For the next three years, anyone who sets up a new business outside London, the South East and the Eastern region will be exempt from £5,000 of employer National Insurance payments, for each of their first ten employees hired,” he said. However, the FSB has warned that excluding the South and East from the NICs holiday for new firms would deter start-ups from setting up there, as well as preventi... »