If you have successfully applied for the scheme and have employed someone during the 2011-12 tax year we should have received your NICs Holiday End of Year Return (form E92) by now. If you have not sent us the form please complete and send it immediately with supporting forms E89 (or equivalent) for each qualifying employee from whom you were entitled to withhold employer Class 1 NICs. Please return the forms in the envelope originally provided. If we do not receive the forms and you have not paid all the employer NICs shown on your P35 and P14s, your record may show that you have an underpayment which will be sent to our Debt Management Team to recover. If you have mislaid any documents Form E92 can be obtained by contacting the Employer Helpline on 08457 143 143 and Forms E89 can be completed and downloaded from our website here . These forms should be returned in an envelope addressed as follows to ensure your return is dealt with urgently:
(red dot) HMRC NICs Holiday Team Room BP 2102 Benton Park View Long Benton NE98 1ZZ
NB. The red dot must be shown on the envelope to ensure that this return is dealt with promptly.
FSB SAYS EXTENDING NICS HOLIDAY WOULD CREATE 45,000 JOBS
17 October 2012
Extending the National Insurance Contributions (NICs) holiday to all micro-firms across the UK would create 45,000 jobs according to new research from the Federation of Small Businesses (FSB). The FSB's research shows that over a two year period, if the scheme were to be opened up to all micro-firms across the UK, it would add 45,000 jobs and £1.3 billion in GDP. However, only 27,000 jobs would be created if this scheme were extended to all businesses within the current scheme's limited area, adding almost £700 million to GDP. The FSB is calling on the Chancellor, at the Conservative party conference in Birmingham this week, to look at the FSB's proposal which could be implemented when the current scheme ends in September 2013 and run until the end of the Parliament in 2015. The current NICs scheme, which Government gave £800 million to fund, gives new businesses outside the south east, east of England and London a break in paying National Insurance for up to 10 new staff they take on. Only 15,000 firms of the projected 200,000 have used the current holiday scheme, in place since June 2010. Previous FSB research has shown that payroll taxes, such as NICs, are a major barrier to hiring for already established businesses. One in four respondents to a recent FSB survey said this was a major factor to not hiring. However, more than half (53%) said that a NICs holiday would encourage them to take on staff. The research estimates that the scheme could be implemented UK-wide for around £500 million – less than the current budget for the scheme – when the wider economic impact of getting people into jobs, paying income tax and having disposable income is taken into account.
John Walker, National Chairman, Federation of Small Businesses, said:
CIPP Policy News Journal
12/04/2013, Page 131 of 362
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