9:29am Thursday 21st March 2013
BUSINESS leaders have welcomed a number of measures to make enterprises better off, especially by offering relief for employers on the first £2,000 of national insurance (NI) contributions.
Adrian Widdowson, of Garbutt & Elliott, said: “Every business will have a rebate effectively of the first £2,000 of national insurance. For small and micro-businesses that’s quite a bit. If you employ somebody at £22,000 a year you’d pay no NI at all on that person’s wages. It will be a great value to them.”
Alastair Byrne, tax associate at JWPCreers, said further reductions in corporation tax, bringing it down from 33 per cent a number of years ago to 20 per cent, will boost large businesses, along with an increase in the annual investment allowance, enabling businesses to offset capital spending of £250,000 against corporation tax.
Mr Widdowson said the Government was trying to encourage employment with the changes in child-care provision.
He said: “It’s an indirect approach saying that people will be more readily available, and hoping that will draw more employers into taking people on.”
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