SueFinanceManager Posted January 16, 2014 Share Posted January 16, 2014 Autumn Statement 2013 The Autumn Statement 2013 delivered on 5th December contained two elements that are of interest to childcare businesses. Employers do not need to take any action on these announcements as they will take effect automatically.National Insurance Contributions for under 21sFrom April 2015 the government will abolish employer NICs for those under the age of 21, (with the exception of those earning more than the Upper Earnings Limit). All childcare business employing under 21s will benefit from this move.Cap on increases to Business Rates With no policy change, business rates for 2014-15 would have risen by 3.2%, in line with September 2013 RPI. The Chancellor announced in his Autumn Statement that the government will support all businesses by capping the RPI increase in business rates to 2% in 2014-15. All childcare businesses paying business rates will benefit from this cap.Local authorities have the ability to grant discretionary relief, under defined schemes. Childcare businesses should contact their local authority to see if any such schemes are available in their area. Link to comment Share on other sites More sharing options...
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