Belfast Telegraph

Friday 29 August 2014

Builders' holiday pay scheme to slash bills

Employers in the construction industry were urged to take advantage of a national insurance exemption on holiday pay before the end of this month.

The Construction Employers Federation (CEF) said businesses should sign up for the Construction First Holiday Pay Scheme, which allows companies to save up to 15% on their annual holiday pay bill.

It said that by signing up in June, companies would see the benefits 'immediately'.

CEF managing director John Armstrong said: "Reducing your holiday pay bill is probably one of the most straightforward and painless steps a company can take.

"Given that summer holiday pay accounts for 35% of annual holiday pay, every construction company in Northern Ireland should be contacting Construction First now to benefit from this exemption - this opportunity is not limited to members of the CEF."

Mr Armstrong said national insurance contributions are not paid on the 29 days' holiday funded through the scheme every year, so that for an employee earning £400 per week, the employer can save just over £200 in contributions. An employee can save £181.

The savings scheme is expected to run until October 2012.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Comment

More

Company Profiles

More

Help & Advice

More

People on the move

More