NIC holiday for start up companies
The Regional Employer National Insurance Contributions (“NIC”) Holiday offer reduction in Employer NICs for new businesses in services, manufacturing and other key industries who meet certain criteria and in certain geographical locations.
Businesses in the North East who fit the right criteria are eligible for this scheme.
Under the scheme, eligible businesses can take a 12 month NIC holiday for each of the first 10 employees hired in the first year of business, up to £5,000 per staff member. This gives a potential saving of £50,000.
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