Guidance is now available for employers wishing to take advantage of the National Insurance holiday for employers of veterans.
Introduced on 6 April 2021, employers who hire former members of the UK regular armed forces during the first year of their civilian employment will not have to pay employers National Insurance contributions for up to 12 months. Employers will be able to claim this relief through their RTI submissions from 6 April 2022 and any earnings of qualifying veterans hired from 6 April 2021 will be eligible for retrospective relief.
The new guidance explains the qualifying rules and claims process for both the 2021/22 and 2022/23 tax years and employers are encouraged to study this guidance to see if they can claim the relief.
Employers will need to update their starter procedures to ensure sufficient records are maintained and provide this to any third-party payroll provider.
We are here to help so please contact us if you wish to discuss any of the above.