The government is encouraging businesses to employ apprentices as they play an important part in its employment policy. As an incentive to employers the government pays cash incentives and provides free advice for employers who take on trainees. Also from the 6th April 2015 if you employ someone of the age of 20 years or younger you will not have to pay employers National Insurance Contributions on their wages.
This also includes exemptions for Scholarship Income, further legislation links the exemption to payments for trainee workers as well. Employers can pay an employee up to £15,480 tax and NI free for periods where they are undergoing training at an educational establishment for their job. Including colleges, universities and educational institutes which are open to the public.
To qualify for this tax break the training must last for at least one year and the worker must attend for at least 20 weeks. If you decrease their pay for working time and increase it for periods of training you can cut the cost of employing them by up to 10%.
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If your business is growing, then you may need to access some sort of finance product to facilitate your growth. With so many products available, it can be bewildering. How do you work out how much you need, for how long and which product/or products are right for you?
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We offer a full range of supplementary accounting services and complimentary business services that will help your business thrive and prosper. All our services and come with a friendly approach, which is of course, free of charge!
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When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.
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