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PAYE Savings

Are there any tax breaks for my new business?

This is a question that we often get asked by clients?

A tax break that should be considered especially if you need to employ people is HMRC run as scheme where new businesses can receive a twelve month employer National Insurance Holiday for up to ten new employees.

There are a few hoops to jump through with this scheme, ie the business must tbe outside of the south east of England and London and the staff must have been hired by the 5th September 2012.

This tax break could be worth up to £5000 per member fo staff taken on, a big benefit to any start up.

It is unsure if this benefit will still be available after the 5th September so to take advantage of this you need to be quick.