National Insurance Relief for Hiring Veterans Launches

BUSINESSES HIRING veterans of the UK armed forces in their first year of civilian employment can save thousands of pounds through National Insurance relief.

From today, employers will not have to pay National Insurance contributions for veterans in their first year of civilian employment after leaving the armed forces. Businesses will also be able to claim this relief retrospectively for any qualifying employees who joined their company in the last 12 months.

Businesses could save £2,567 per employee on the average salary in the UK. A business hiring 10 qualifying veterans could save over £25,000.

Hiring Veterans

Minister for Defence People and Veterans Leo Docherty said: “Our veterans have made important contributions to keeping our country safe. The skills they gain during service are invaluable, and businesses can greatly benefit from their dedication.”

The National Insurance relief is part of wider incentives to support veteran employability, including the roll out of the ‘Great Place to Work for Veterans’ scheme across government. Businesses will benefit from the numerous transferable skills veterans gain in service, including collaboration and dedication.

The relief is available to all employers of veterans, regardless of when the veteran left the regular armed forces, providing that they have not been employed in a civilian capacity since leaving service. The relief will be available to all qualifying veterans each time they leave HM Armed Forces.

Detailed guidance on how employers can claim back national insurance is available here.

>>Read more about hiring veterans in the news