MP calls for action on NI holiday scheme
Treasury minister David Gauke has paid a visit to Leicester urging companies to find out whether they are entitled to cash from the government's National Insurance contribution holiday scheme.
The regional employer National Insurance contributions (NICs) holiday scheme is designed to encourage the creation of private sector jobs by reducing the cost of employing staff to new businesses.
There are currently 552 businesses benefitting from the scheme in the East Midlands, according to HM Revenue and Customs. Each business saved an average of more than £2,000 each last year.
NICs holiday scheme is available to businesses set up since 22 June 2010 and is worth up to £5,000 for up to the first ten employees hired in the first year of business.
Gauke said: "This scheme is quick and easy to apply for and can give an instant boost to new businesses, but there are hundreds in the East Midlands that could be missing out on up to £50,000. I’d encourage all new businesses and their advisers to find out more."
