Regional Employed NIC Holiday for New Businesses
Good morning everyone
Can anyone advise how I can account for the Regional Employer NIC Holiday for New Businesses Scheme? My company started in NOv 11 and has been accepted for this yesterday, I am just wondering whether I make some sort of deduction in Sage Payroll or whether I run the Payroll as normal and make the deduction when posting the journal in Sage Accounts?
My thought initially were that I would do it on Payroll so the amount due on the P32 matches what we pay over but surely HMRC need to see the amount that we should have paid over so do I just leave it so the P32 looks like we owe it? I have spoken to our accountant regarding this but he has not come across it as yet...
I also have the added issue of using the backdated P32's ....
The scheme basically allows new businesses within certain areas to claim back the ERS due for the first 10 employees within the first 12 months up to a maximum of £5k per employee..
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