The Government have announced a one-year exemption from paying employers national insurance contributions (NICs) where military veterans are recruited by civilian employers.

How can I access the new benefit for hiring ex-military staff?

Employers can claim relief if they employ a veteran during the qualifying period. The qualifying period starts on the first day of the veteran’s first civilian job since leaving the regular armed forces and ends 12 months later.

For 2021/22 employers will be required to pay the NICs and then claim back the amounts paid at the end of the tax year. From 6 April 2022 a new zero NIC rate will apply.

 

Speak to us if you’d like some independent, impartial advice on taking advantage of the financial benefit of hiring veterans, or any other tax relief or credit.

 

Related services:
R&D Tax credits
IR35
Corporate tax services