Greg Hands MP has welcomed new figures released this month showing that 2,400 businesses in Chelsea and Fulham are benefitting from the Government’s Employment Allowance since its introduction in April, making it easier for businesses to hire staff and create jobs.
The Employment Allowance is a reduction in National Insurance Contributions that an employer pays for its employees. The allowance is worth up to £2,000 off the National Insurance bill of every employer and is open to businesses, charities and community amateur sports clubs.
The allowance means a business could now hire someone on £22,400 a year, or four people working full-time on the minimum wage, and not have to pay any employer National Insurance Contributions. This is making it easier for local businesses to grow and create more jobs in Chelsea and Fulham.
Additionally the figures show that across the whole of London 130,000 have benefitted from the reduction to National Insurance. Within the first six months of its launch, over 850,000 employers across the country have benefitted from the Employment Allowance.
Greg Hands MP said: “This tax cut is a key part of our long-term economic plan to back business and secure a better future for Britain. Already, 2,400 businesses in Chelsea and Fulham are benefitting from the cut, making it easier for them to hire staff and create jobs.
“I want to make sure that every business in Chelsea and Fulham that can claim this tax cut does. If you’re not sure how to please do contact me to find out more.
“The figure show that this scheme is not just benefitting Chelsea and Fulham, but is being taken up right across London and the whole country, with over 850,000 businesses benefitting. Our long-term economic plan is helping to create jobs by making it easier for businesses to take on new employees. Since the last election, businesses in the UK have created over 2 million jobs."