The government is seeking views from employers of veterans, software providers and accountants about a National Insurance Contributions (NICs) holiday for employers who hire former members of the UK regular armed forces. The measure, announced at Budget 2020 in March, will exempt employers for any NICs liability on veteran’s salary up to the Upper Secondary Threshold in their first year of civilian employment.
This relief will be available to employers from April 2021. From April 2022, employers will claim this relief through PAYE in real time; however, transitional arrangements will be in place for the 2021-2022 tax year.
The closing dates for responses is the 5th October 2020