National Insurance holiday for employing armed forces veterans
The new measure, which is effective from 6th April, allows employers to claim National Insurance contributions relief for veterans they have hired during their first year of civilian employment after leaving the armed forces. The relief is available to all employers of veterans regardless of when the veteran left the regular armed forces, providing that they have not been employed in a civilian capacity since leaving the service. The relief will be available on all qualifying veterans each time they leave HM Armed Forces. Employers will be able to claim National Insurance contributions relief on the earnings of qualifying veterans. A person qualifies as a veteran if they have served at least one day in the regular armed forces. This includes anyone who has completed at least one day of basic training.
Commenting on the announcement, Alan Mitchell, Chief Executive of Fife Chamber of Commerce, said: “This is a great initiative by HMRC and one that will hopefully help more military veterans make a successful transition back into civilian life. The bonus for employers is that military personnel learn amazing skills while they serve, and those skills can be a huge asset for businesses. That will be the central message at an exciting leadership event on 30th April organised by ChamberFORCE, a partnership of chambers of commerce and the Highland Reserve Forces & Cadets Association.“
Click here for guidance on how to claim
Click here for details of the ChamberFORCE event