Chancellor expected to introduce tax break for employers who hire veterans
09 March 2020
It is expected that, as per the pledge made in the Conservative Manifesto, Chancellor Rishi Sunak will announce a new tax break for employers who hire force veterans, along with a raft of other changes at Budget on Wednesday 11 March.
Employers who hire ex-forces personnel will no longer have to pay any employer National Insurance (NI) contributions for the first year of their work, in a bid to boost the number of veterans who get straight into work. It is estimated that approximately 15,000 sailors, soldiers and airmen leave the services each year so this could benefit a substantial amount of individuals and the employers that hire them.
Armed Forces Minister, Johnny Mercer, tweeted:
“Having a job is the single biggest driver of life chances in Veterans. So we’re waiving National Insurance contributions for employers for the first year that they hire a veteran. Determined this country will top the table on Veterans care.”
Rishi Sunak commented:
“The UK owes all ex-servicemen and women a tremendous debt for serving our country and keeping us safe - so it is only right we help them in every possible way.
My Budget will deliver on the promises we've made to veterans - and to the rest of the British people."
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