Meanwhile, more than a third of firms suggest investment and day-to-day operations will be impacted.
Alex Veitch, Director of Policy at the British Chambers of Commerce said:
‘The clock is ticking down to the NICs rise, and firms are already telling us they are sitting on a powder keg of costs.
‘The government has pledged to retain the NICs tax position through the life of this parliament, but our new evidence should give pause for thought. We need the government to publish a wider tax roadmap for business, setting out the direction of travel for costs like NICs and business rates.
‘Business rate reform must be an urgent priority, creating a system that incentives investment. Getting on with planning and skills reforms will also remove blockers to growth.’
Internet link: BCC
Navigate the Changing Cost of Employment
As the tax burden on businesses reaches record levels, professional guidance is essential to ensure your payroll remains accurate and efficient. We offer complete payroll support, including monthly processing and auto-enrolment duties, to help you weather the rising costs. To find out how we can support your business, please fill out our contact form.
