Budget 2013- Changes to National Insurance
The government is to cut £2,000 off the bill of every company in the UK through a new Employment Allowance.
At the moment firms in the UK with employees pay £500 for each employee on minimum wage. The new Employment Allowance will allow companies to cut their National Insurance costs by approximately £2,000 each.
As the discount will be applied on a per company as opposed to per person basis, it is hoped the measure will help to reduce the tax burden on small businesses.