Theresa welcomes tax cut for businesses
- Nov 24, 2014
- Westminster news
Theresa May has welcomed new figures showing that nearly 2,000 businesses in the Maidenhead area are benefitting from the Government’s Employment Allowance since its introduction in April, making it easier for businesses to hire staff and create jobs. The Employment Allowance is a reduction in National Insurance Contributions that an employer pays for its employees.
The allowance is worth up to £2,000 off the National Insurance bill of every employer and is open to businesses, charities and community amateur sports clubs. The allowance means a business could now hire someone on £22,400 a year, or four people working full-time on the minimum wage, and not have to pay any employer National Insurance Contributions.
Within the first six months of its launch, over 850,000 employers across the country have benefitted from the Employment Allowance – including an estimated 1,900 in the Maidenhead constituency.
Commenting, Theresa said: “It is great that nearly 2,000 businesses in the Maidenhead area are benefitting from this tax cut, making it easier for them to hire staff and create jobs. It is crucial that we support job creators and I hope that every local business in Maidenhead will take advantage of this.”