Henry Smith MP has welcomed the start of tax reforms that will help businesses across Crawley to invest more of their money into growing and taking on more staff.

From 6th April 2016, employer National Insurance contributions for apprentices under 25 are completely abolished, saving a business employing an apprentice on the National Minimum Wage over £500 a year.

Henry said;

“I’m pleased that employer National Insurance contributions for apprentices under 25 have been abolished; this will help large and small firms to grow, create jobs, and to train young people.”

The employment allowance for all businesses and charities is also rising from £2,000 to £3,000, so that an organisation can employ up to four people, full-time on the new National Living Wage and pay no employer National Insurance contributions at all.

Henry continued;

“Crawley firms will be able to take on up to four full-time staff on the National Living Wage without paying any employer National Insurance contributions, providing further opportunities for employment and growth.

“The 2016 Budget also confirmed a sixth year of fuel duty being frozen, meaning that the average small business with a van saves £12 each time they fill up compared to the pre-2010 fuel escalator plans of the previous Government.”

Businesses will also benefit from a cut in Capital Gains Tax, with the higher rate falling from 28 per cent to 20 per cent and the basic rate from 18 per cent to 10 per cent, ensuring they can access the capital they need to grow and create jobs.

On Friday, 1st April 2016, a range of other reforms began, including the further extension of the doubling of small business rates relief into 2016-17, and the freezing of fuel duty, which will see small businesses with a van save £12 each time they fill their tank, in comparison to the fuel escalator plans of the previous Labour government.