All companies that employ veterans will be exempt from paying National Insurance on the first 12 months of their employment. From Tuesday businesses that employ Armed Forces veterans will benefit from a national insurance holiday for the first year of the employee's service in civilian life.
The holiday means employers can take advantage of the tax relief, which will be saving them a 13.8 per cent contribution based on employees earnings of more than £732 a month. The relief, which was pledged during the 2019 Conservative Manifesto, is available to all employers of veterans regardless of when the veteran left the regular armed forces, providing that they have not been employed in a civilian capacity since leaving service. A person qualifies as a veteran if they have served at least one day in the regular or reserve Armed Forces.
Source: The Telegraph
