The Treasury is launching a one year holiday on national insurance contributions for new start-up businesses worth £5000 for the first ten new employees hired by the business in the first year.
Some industries, as well as some regions of the UK will not be covered however. New businesses in the coal, fishing and agriculture sectors will not be permitted to claim the tax break. Equally, businesses in the Greater London, South East and Eastern regions of the UK will not be covered, according to HMRC, as per George Osborne’s June budget.
HMRC confirmed that businesses which have set up since June 22 will be eligible to claim under the scheme for 12 months from 6th September through to 5th September 2013.
