NI breaks for Employers of Apprentices under 25
From April 2016 employers of apprentices under 25 are no longer be required to pay secondary class 1 National Insurance Contributions (NIC) on earnings up to the Upper Earnings Limit, which is currently £43,000, for those employees.
This is a saving of 13.8% on everything an apprentice earns over £8,000 per year up to the upper earnings limit.
To calculate the potential savings you can make for any employee you employ as an apprentice, who is under 25 years of age, click here. Our National Insuance savngs calculator can be used as a guide to help you see the potential savings you could make by employing an apprentice or if you place a member of staff under the age of 25 on an apprenticeship programme.
Apprenticeships are an excellent, cost effective way of expanding your business and improving the skills of your employees - find out more about our apprenticeships in Sheffield and South Yorkshire today.