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Description

Investment Zone National Insurance Categories have been announced by HMRC to be effective from 2024/2025 tax year whereby if your agency and client are within an investment zone and any new payee who will be working 80% of their time in the investment zone in the tax year, you are able to pay a reduced amount of employer National Insurance contribution for a period of 3 years.

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When the expiry date arrives, FastTrack360 will automatically revert to the non Investment Zone category within the period close process.

Benefits

To allow for the application of Investment Zone NI relief for the employer.

Configuration

In the payee record:

  • Add a new validity for the HMRC Details section

  • Apply the relevant NI category to the validity period.