19,000 employers in Lancashire get National Insurance discount
Nearly 19,000 employers in Lancashire are benefiting from the government’s new Employment Allowance, according to the latest statistics.
Eligible businesses and charities can now claim a discount of up to £2,000 on the National Insurance Contributions they pay for their employees.Within the first six months since its launch, over 850,000 employers across the UK and nearly 87,000 in the North West had benefitted from the Employment Allowance. This number is expected to increase throughout the remainder of the tax year.
Announced at Budget 2013, the allowance is simple to claim and easy to administer. Businesses simply confirm their eligibility for the allowance through their regular payroll processes.The new data coincides with a recent survey by the Federation of Small Businesses which found that many firms have used it to invest in staff, with 18 per cent increasing wages, 17 per cent hiring additional staff and 12 per cent providing additional training.
Around one in five has also invested in their businesses through equipment, machinery or premises, and one in ten has provided extra hours for staff.John Allan, national chairman of the Federation of Small Businesses (FSB) said: “We're really pleased to see so many businesses already taking advantage of the Employment Allowance. We called on Government to help small employers invest in staff, and now we see how this additional support has been spent.
“Our members have used the Allowance by paying workers more, hiring new people and increasing training. It's also good to see a quarter of those that used the allowance to hire new staff took on an apprentice. We will work with government to raise the profile of the Employment Allowance so all the firms eligible, claim it.”Chancellor George Osborne said: “Today’s figures show that half way through its first year, over 850,000 businesses in Britain have already benefited from a cashback on jobs.
“Businesses across the country can claim a cut in their National Insurance bill, worth up to £2,000, thanks to the Employment Allowance – and, if they haven’t already, then I urge them to do so.“This tax cut is part of our long term economic plan to back businesses investing in jobs. That is how you deliver greater economic security for hardworking people.”