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Payment Holiday for company NI's

  • Fellow PM.Dip
  • 13 posts
  • # 76245

I have just taken over a payroll, and have been told that they have been given a holiday by HRMC for 2011/2012 in the payment of Company NI does anybody know anything about this and how do I set up Sage for this. I didn't think HRMC were that kind to give a payment holiday!
Carolyn

  • Fellow PM.Dip
  • Practice Licence
  • 336 posts
  • # 76249

Carolyn,

one of the ompanies that I manage the books for has also had an employer contributions holiday as apparently new businesses that started up during a particular period of last year were entitled to request a year's contributions holiday. We have just had our credited back to us from HMRC and therefore don't need to make any payment this month!  I'm not sure how you would set this up on Sage though - I'm only doing this company's accounts on a spreadsheet at the moment.

Kind regards 

  • Fellow
  • Practice Licence
  • 27 posts
  • # 76262

Hi

The following link should provide you with all the answers.


http://www.hmrc.gov.uk/paye/intro/nics-holiday/calc.htm

Regards

Lynne

  • Fellow PM.Dip
  • Practice Licence
  • 336 posts
  • # 76263

Very useful thanks Lynne.

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