Will firms using facilities management cost reduction process benefit from Treasury's NIC holiday?
September 7th 16:46 Cost Management
New businesses in the UK that are set to adopt facilities management cost reduction processes to maximise their profit potential could be among those to benefit from a new National Insurance contribution (NIC) holiday.
The Treasury has announced the start of a new holiday, which exempts new businesses operating outside of London and the south-east of England from paying a certain amount of NICs.
Announced in the last emergency Budget, the holiday relieves new small businesses from paying up to £5,000 NICs for their first ten employees.
It could see firms that use the initiative to its full potential save up to £50,000 in their first year of operation.
David Gauke, exchequer secretary to the Treasury, said: "We need to rebalance our economy which has become over reliant on public spending and jobs provided by the public sector.
"The NICs holiday for new businesses in addition to cuts in corporation tax will provide a valuable boost to start up businesses and help foster the private sector led recovery that will drive growth in the UK over the coming years."
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