National Insurance break for apprentices could save companies over £200,000 a year each
December 03, 2014
By John Harding, employment tax partner and Sara Caplan, education and skills partner
The National Insurance Contributions break from April 2016 for employers employing apprentices under the age of 25, is a further boost to youth employment and will enable employers to invest the savings they make in National Insurance in training and development or even more jobs.
For an employer with 100 apprentices earning around £22,500 a year – the overall saving to the company could exceed £200,000 per year.
This will make it easier for employers, of all sizes, to take on apprentices, who serve a vital role in bridging the skills gaps and growing the UK economy.