Carmichael — New bill to deliver £2,000 a year tax cut for isles businesses

Northern Isles MP Alistair Carmichael has highlighted potential savings of £2,000 for isles businesses through the National Insurance Contributions Bill.

The Bill, which had its first reading in the House of Commons on Monday, October 14, provides the detail for a new employment allowance of £2,000 per year for all businesses and charities to offset against their employer national insurance bill from April 2014.

Mr Carmichael said: “Small and medium-sized businesses are the backbone of the local economy in Orkney and Shetland as such anything that is designed to help small businesses should be good news for our local economy.

“The National Insurance Contributions Bill will be a welcome help to many businesses and charities in the isles who will be able to save £2,000 from their employer national insurance bill. Of course it is not going to suit all small businesses but I hope this will send a signal to the business community that we are on their side.”