Start-ups missing out on ‘jobs tax’ support

Start-up businesses in Lancashire are missing out on the opportunity to claim back thousands of pounds in tax, according to one of the region’s leading advisors.

Under HMRC’s employer NICs holiday scheme, new businesses may qualify for a deduction of up to £5,000 from the NICs that would normally be due for each of the first ten employees they take on, providing they meet certain conditions.

The reminder to take advantage of the scheme comes as the government prepares to introduce new legislation which will offer all businesses, regardless of how long they have been trading, support with employer NICs from April 2014.

“For some small businesses this could add up to a significant sum that could be reinvested in the business. I would urge all small businesses that have been established since June 2010 to contact their tax advisor to see if they are eligible to claim money back.”