As part of the Autumn Budget 2024 announcements, the government has confirmed that it is extending the employer NICs relief for employers hiring qualifying veterans for a further year from 6th April 2025 until 5th April 2026.
NI letter V to continue for a further year
This means that businesses will continue to pay no employer NICs up to annual earnings of the Veterans Upper Secondary Threshold of £50,270 for the first year of a veteran’s employment in a civilian role.
This includes the increased secondary NIC rate rise from the current 13.8% to the new 15% rate which applies to payments from 6th April 2025.
PAYadvice.UK 8/11/2024
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