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Post Info TOPIC: NI Holiday scheme
Cheshire


Master Book-keeper

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NI Holiday scheme
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Hi Folks

I have a customer who has benefited a little from the HMRC National Insurance Holiday scheme, saving £420.20 over the last couple of months.  Should I be reflecting this amount somehow in the books and if so how?

 



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
MarkS


Expert

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No, doesnt need to be shown anywhere, just a cost they would have incurred, and will incur when the holiday is over, which they arent.



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
FoxAccountancyServices


Expert

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Hey Joanne, what is this scheme?

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Cheshire


Master Book-keeper

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Thanks Mark, as ever!

Michelle - it just finished on 5 Septemberdisbelief, although Ive heard murmerings they are running a another (shorter )one next year - March ish, if I recall correctly, but dont quote me on that. Its actually called the Regional Employer National Insurance contributions (NICs) Holiday for New Businesses (what a mouthfull) scheme. Im trying to recall where I saw it - might have been an agents update.



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
FoxAccountancyServices


Expert

Status: Offline
Posts: 2021
Date:
Permalink Closed

Cheers Joanne, I will look that mouthful up, and ask my guru.. I dont think I will ever need it, but its good to know these things exist :)

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