188体育

Where an employer ceases to be an employer or goes into liquidation during the tax year, they can still offset the full 拢15,000 allowance against their levy liability for the part of the tax year that they were an employer.

Example

Company G stops trading in December. It is not connected to any other company. It has been reporting and paying the levy since the start of the tax year. Even though Company G does not trade for the full tax year, it is still entitled to the full annual levy allowance of 拢15,000. In November (the month before Company G cease to trade), Company G鈥檚 pro-rated cumulative levy allowance will be 拢10,000 (8 x 拢1,250). However, because Company G ceases to trade in December, levy allowance for December will be 拢15,000 (minus 拢10,000 already claimed), not 拢11,250 (9 x 拢1,250).