National Insurance Contributions: Abolition Of Employer Contributions For Apprentices Under 25 - Gov.uk
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National Insurance Contributions: Abolition Of Employer Contributions For Apprentices Under 25 - Gov.uk. However, in general, apprenticeship pay is far lower. National insurance breaks for employers of apprentices under 25 from april 2021 employers of apprentices under the age of 25 will no longer be required to pay secondary class 1 (employer) national insurance contributions (nic) on earnings up to the upper earnings limit (currently £50,270), for those employees.
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It is thought that employers of young apprentices are set to save. Since 6 april 2016 employers no longer have to pay national insurance contributions for apprentices under the age of 25 for earnings below £827 per week (£43,000 per year). They must be under 25 years old and following an approved uk government statutory apprenticeship framework. Eur 6,091 is the maximum amount of employer national insurance savings, corresponding to an apprentice pay of eur 54,000. Employer national insurance contributions for apprentices aged under 25 years have been abolished. This tax information and impact note is about the abolition of employer national insurance contributions (nics) for apprentices under 25. Great news for those uk businesses who employ apprentices, as the national insurance contributions have been abolished for apprentices under 25. This is a guide for employers on changes to national insurance contributions for apprentices aged under 25 applying from april 2016. Employers of apprentices under the age of 25. April 2016 marks a change in the law that is designed to further encourage employers to take on more apprentices.
They must be under 25 years old and following an approved uk government statutory apprenticeship framework. From april 2015 employers were no longer required to pay class 1 secondary national insurance contributions (nics)1 on earnings up to a certain limit2 for. Once payments exceed the ust, normal class 1 secondary nics are paid. 6 april sees the introduction of two new ni table letters to be used for apprentices under the age of 25. The measure will abolish employer nics for employees under the age of 21 earning up to nics uel in any pay period. Under the new regulations, employers of apprentices will not have to pay secondary class 1 ni as long as the apprentice’s pay does not exceed the apprentice upper secondary threshold (aust). Since 6 april 2016 employers no longer have to pay national insurance contributions for apprentices under the age of 25 for earnings below £827 per week (£43,000 per year). This is up to a 13.8% saving on everything the apprentice earns. This tax information and impact note is about the abolition of employer national insurance contributions (nics) for apprentices under 25. According to the legal specification, the employer saves 13.8% of national insurance contributions (nic) which would be due on the gross pay between the secondary threshold ( eur 9,247 per year) and the apprentice upper secondary threshold (eur 49,020 per year) (all figures valid for the tax year 2016/17). Forms and guidance in braille, large print and audio for details of employer forms and guidance in braille,.
