Infozone: the briefing – 17/09/10

TAX BREAK FOR NEW BUSINESS

A newly launched tax break means that new businesses in the Midlands, the North of England, Scotland and Wales can potentially save up to £50,000 a year.

The national insurance contributions holiday scheme has been launched by the Government to encourage investment in areas that are particularly reliant on public sector funding.

Under the scheme, hospitality companies and others in the targeted regions can save £5,000 per employee for the first 10 employees, with each "holiday" lasting for the first 52 weeks that person is in post.

The scheme is open to new businesses set up on or after 22 June 2010 and will run until 5 September 2013.

Qualifying regions comprise the North-east, North-west, South-west, Yorkshire and the Humber, East Midlands , West Midlands, Scotland, Wales and Northern Ireland.

More information can be found at www.businesslink.gov.uk/nicsholiday.

STAFF RETENTION REVIEWS NEEDED
Employers have been urged to review their staff retention programmes to ensure that their best employees don't jump ship as the economy begins to pick up.

The call came after a pan-European survey of more than 7,500 workers by consultancy firm Aon Consulting revealed that nearly half (47%) of the 1,000 UK respondents were planning on looking for a new job before the end of the year.

The Irish (49%) were the only workforce more likely to want to swap jobs than the British.

The UK research also revealed that men (48%) are marginally more likely than women (47%) to look for a new job; 18-24 year olds (53%) are most likely to seek a move; and older workers are more likely to sit tight.