Autumn Statement for Employers
George Osborne has announced in his Autumn Statement that from April 2016 the Government will abolish employer National Insurance Contributions on earnings up to the upper earnings limit for apprentices aged under 25.
The Government has already introduced legislation which means that from April 2015 employers will not pay National Insurance Contributions for any employees under the age of 21 on earnings up to the upper earnings limit. The latest announcement is designed to support the employment of young people by enabling them to develop the skills and experience they need for their future careers.
The Government also announced that from April 2015 the income tax personal allowance will rise to £10,600 (up a further £100 on its previous announcement) and the higher rate income tax threshold will rise to £42,385. There will be no change to income tax rates.
The Government will also increase funding for National Minimum Wage enforcement in 2015/16 by £3 million.
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