NICs holiday in Construction industry
Members in the construction industry should note that they do not need to pay NI contributions on holiday pay until 2012.
A benefit scheme run by construction industry support group B&CE means that companies can save thousands via an employee financial package.
The scheme allows contributions to be made to a central, independently managed holiday pay fund approved by HM Revenue & Customs. The resulting holiday pay contributions will be exempt of all NI.
Typically, employers can save up to £204 per employee.
The scheme is only open to the construction industry up to October 2012.
Call 08457 414142 or click here for more information.
(B&CE stands for Building & Civil Engineering Holiday Scheme Management.)