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In a new government scheme that started yesterday, employers will be exempt from paying national insurance for 12 months when they take on veterans from the Army, Royal Navy or RAF. Companies will get tax relief, worth a saving of 13.8%, based on employee pay of more than £732 per month. Former British Army officer and Veterans Minister, Johnny Mercer said “ We are targeting this relief for 12 months. As we know that for veterans, this period when they are returning to civilian life, is key.”
As there are a good number of military personnel based in Hampshire, Dorset and Wiltshire this could be a great opportunity for local employers.
“Businesses can now recruit skilled and talented individuals who have served their country, whilst taking advantage of the tax relief. This initiative could be a real win-win for employers and veterans alike.” commented Paul Stacey, Director of Hub Chartered Accountants.
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