1 October 2014: £2000 Allowance for Employers of UK Employees

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Compandben’s UK Employment Service Partners

 

Quote from our UK Employment Services Provider Partner:

Clients that have UK employees might want to check that their local payroll provider or PEO service have implemented the GBP2000 allowance for the 2014 tax year. It is a once off allowance. Here is a copy of a note issued by the firm we use for payrolls in UK.

From 6 April 2014 employers can claim the Employment Allowance and reduce their employer Class 1 National Insurance contributions (NICs).
As an eligible company you can reduce your employer Class 1 NICs by up to £2,000 each tax year. We will process the claim during our normal payroll process. When we make the claim, we shall reduce the employer Class 1 NICs payment by an amount of Employment Allowance equal to the employer Class 1 NICs due, but not more than £2,000 per year. For example, if your employer Class 1 NICs are say £1,200 each month, in April your Class 1 payments will be NIL and in May £800, as the allowance is capped at £2,000.

For more information…
Contact Compandben or visit Compandben Main Website – UK Payroll & PEO Services

John Tinsley

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