Employment Allowance

[Phil.]

Novice here and am going to ask my accountant for advice but don't want to bother them if I'm barking up the wrong tree.

The context is a small Ltd company with two owner/director/employees and have received a £5k Employment Allowance (EA) letter.

The total employers Class 1 NIC bill is c.£500 per annum which I understand can be offset against the EA?

I have also read that the remainder of the EA (£4.5k in this case) and be offset against CT.

Is any of this correct and if so can the EA be applied retrospectively as I believe it was available for the last FY but not used?

[22]

I thought this was for late claims (insufficient time to use full allowance) rather than not the filing extent to use? I think you can roll surplus into another PAYE period, but that's about it.

Disclaimer. I run a small business that uses the allowance and a smaller one that doesn't use it all; but with the help of accountants