This publication explores how best to encourage employment of veterans through a National Insurance Contribution (NICs) relief for employers who hire veterans.
Stable and fulfilling employment is a vital part of a successful transition from the Armed Forces to civilian life. The Government provides an effective career transition package to service personnel leaving the Armed Forces which supports 86%1 into employment. The training, experience and resources available to service personnel ensure that veterans have a valuable skill set to offer employers. However, 6% of veterans using this service remain unemployed up to a year after leaving the Armed Forces. Ahead of the 2019 General Election, the Conservative Party made a manifesto commitment to support former service personnel into employment. At Spring Budget 2020, the Chancellor announced that this commitment would be fulfilled through the introduction of a National Insurance contribution holiday for employers of veterans in their first year of civilian employment.
HM Revenue & Customs, 2020. Supporting veterans transition to civilian life through employment. Available at: <https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/902293/Supporting_veterans_transition_to_civilian_life_through_employment.pdf>.