Tax Breaks for Employing Veterans

Although employers are required to operate their payroll in real-time, written postal claims are now required for national insurance contributions relief for veterans for 2021/22.

In April 2021, HMRC introduced a zero rate of NIC for the companies who employ qualifying veterans but for the 2021/2022 tax year these employers still had to pay the normal secondary class 1 national insurance contributions. From the 6th April, employers can claim this back using the written process that HMRC released updated guidance on earlier this year.

The relief will then apply in real time, and employers can claim it by using the new NI category letter V for all qualifying veterans as of the 6th April.

For more tax help, click the chat button!