As previously advised the allowance available to employers to set against their employers National Insurance liability for the year has increased to £3,000 from 6 April 2016 and no action is required if you claimed the allowance for 2015/16. However from 6 April 2016 limited companies, where the director is the only employee, will no longer be entitled to claim the allowance.
When you are completing this month’s wages, remember that the minimum wage increased on the 1st October 2015. This isn’t a recommendation it is a legal requirement.
The new minimum wages are as follows:
Are you taking advantage of this rare allowance for UK businesses worth up to £2,000?
You may have read in your letter from Dave (Mr Cameron) that from the 6th April the employment allowance is available for most businesses that pay employer’s Class 1 National Insurance contributions on their employees’ or directors’ wages. It is also available for Community Amateur Sports Clubs and Charities.