The Budget has significant implications for all employers with the following significant changes:
1) VAT increase – this has an impact on the overall cost of resourcing, particularly for employers who contract in sole traders and contract resources
2) Social Welfare sick pay cost – this was NOT passed onto employers as initially feared. A major relief as this would have been a devastating cost particularly to small employers
3) Reduction of Redundancy Rebate – the statutory redundancy rebate as been reduced from 60% to 15%, imposing an additional estimated €81 million onto employers
For any advice or questions about the changes, contact us directly at 01 5252914 or contact@voltedge.ie