TaxCorporate TaxNI increase may prompt job cuts

NI increase may prompt job cuts

One in five firms intend to sack staff as a direct result of the rise in employers' national insurance, according to a British Chambers of Commerce survey, echoing research carried out for Accountancy Age.

Link: Many FDs say NI rise will hit jobs

The rise, 1% on the rate but an effective 10% increase in payments, was announced last year and takes effect from 6 April.

At the beginning of March Accountancy Age published findings which showed that one in four firms could be forced to cut recruitment as a result of the hike in the tax.

The BCC research comes just days away from the increase taking place but also found that, among SMEs, the numbers of companies saying they will have to take action to cut costs climbed to one in three.

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

2w Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

2w Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

3m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

3m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

3m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

6m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

7m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

7m Alia Shoaib, Reporter