National Insurance refund/reclaim

[csservices]

Anyone know about the workings of this NI refund/reclaim thats being advertised on the radio to help out business by the government, says about reclaiming it through payroll but is it possible for us self employed/sole traders to claim any of it?

[Al Cormack]

Go on the HMRC website to see if you are eligible. It is for reducing the employers ni contribution.

[Joy Yeomans]

if you employ people you can claim it

 

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[Ian C]

My accountant is sorting mine, basically you dont pay ni contributions untill you go over 2k.

 

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[ChunksBigBro]

When employers pay employees they deduct the employees ni contributions from their wages and send it to hmrc, employers also have to pay a bit of ni for each employee that have, i believe the allowance hmrc are offering is for the employers ni part only.

 

by virtue of that i don't believe employees nor s/e people can claim this (unless you employ through a paye scheme)

 

it is to encourage employers to employ more people n spend money in the economy

 

this is not gospel, but from the literature we've read that's how it seems. If your eligible you should get a letter from your paye office

 

as i said that's how the letter read, but in sure hmrc can clarify

[Al Cormack]

When employers pay employees they deduct the employees ni contributions from their wages and send it to hmrc, employers also have to pay a bit of ni for each employee that have, i believe the allowance hmrc are offering is for the employers ni part only.

 

by virtue of that i don't believe employees nor s/e people can claim this (unless you employ through a paye scheme)

 

it is to encourage employers to employ more people n spend money in the economy

 

this is not gospel, but from the literature we've read that's how it seems. If your eligible you should get a letter from your paye office

 

as i said that's how the letter read, but in sure hmrc can clarify

 

That's my understanding as well.

Here's the link to the relevant page on HMRC website :

 

https://www.gov.uk/employment-allowance-up-to-2000-off-your-class-1-nics

[richy_B]

We've not sorted this out just yet but if it all works out as they say I think it is genuinely a good thing for small businesses.