Employment Allowance: New data reveals benefit of tax cut for UK employers

New data released today (Thursday 31 July) reveals how over 725,000 UK employers are benefitting from the Employment Allowance in each region and sector across the UK.

The Employment Allowance is a reduction in National Insurance Contributions (NICs) that an employer pays on their employees, and is worth up to £2000 for eligible businesses and charities.

By the end of June, 725,000 employers across the UK had benefitted from the Employment Allowance. This number is expected to increase throughout the remainder of the tax year.

Announced at Budget 2013, the allowance is simple to claim and easy to administer. Businesses simply confirm their eligibility for the allowance through their regular payroll processes.

Chancellor George Osborne said:

Backing businesses is a key part of the government’s long term economic plan.

Small businesses make a vital contribution to our economy, creating jobs and stimulating growth.

We’re cutting the tax on jobs and today’s figures show our approach is working.

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