How the new Labour Government may affect the payroll profession
Whilst we will need to wait and see what changes will materialise in the payroll profession and when, we can look to the Labour manifesto for an indication of what may be to come. How the new Labour Government may affect the payroll profession can be understood through their set of proposals, as follows: Tax: […]
Forthcoming changes to the National Minimum Wage and the new National Living Wage age band
This is a reminder for businesses to budget and plan for the forthcoming change to the National Living Wage banding. Currently, the National Living Wage (NLW) applies to workers who are aged 23 and over, but from 1 April 2024 this minimum age will be lowered, so that the NLW will apply to all workers […]
Key Payroll Updates for August 2023
Find out the latest updates which may impact your organisation’s payroll team, including mileage rates, tax incentives, neonatal leave and pay, paternity leave and pay, and student loan interest rates. Mileage rates Trade Unions and the RAC Foundation are calling for the Government to increase mileage rates in light of the cost-of-living crisis and the […]
Payroll Planning for 2023
The new year often brings change in legislation and tax rates. Keeping on track with your Payroll by staying up to date with these future changes is a great way to ensure that you are running the financial aspects of your business correctly. HMRC has highlighted a number of areas that are going to see […]
Keeping your Payroll on track
Employers must plan their payroll carefully this month because of the additional Bacs non-processing days, which are Monday 26 and Tuesday 27 December. Careful planning will ensure payments are processed in time to ensure employees do not miss out on expected payments (or deductions). This is especially important this year, given the increased costs of […]
Outsourced HR: The Pros and Cons
What is Outsourced HR? Outsourced HR is a contractual agreement between an employer and an external third-party provider whereby the employer transfers the management of, and processing of key employment practices for certain HR functions to the external provider. If you are struggling to keep up with HR tasks in your organisation, or simply don’t […]
Off Payroll Contractors: IR35 Tax Changes
The UK have 3 months until the reform of the IR35 legislation. It had originally been due to come into force back in April 2020, but the Government pushed it back a year to 6 April 2021. Whilst we must continue to respond to Covid-19 challenges as well as prepare for our exit out of […]
Real Living Wage boosted to £9.50 per hour
According to the Living Wage Foundation, over 250,000 people will see wages boosted by 20p to £9.50 if their employer has signed up to the ‘Real Living Wage‘, and employees should receive the new rate in May 2021. Not to be confused with the National Living Wage (NLW), the Real Living Wage is a recommendation of the Living Wage Foundation that ensure all workers earn a wage that covers […]
Job Retention Scheme Portal – Claiming for Furlough
HMRC have announced that the Coronavirus Job Retention Scheme (CJRS) portal is now live, from Monday 20th April, with the first payments being made up to 10 days later. We are expecting the portal to be busy for the first few days as many businesses will be accessing it to get their claim started. There […]
IR35: private sector and Brexit
IR35 introduced to stop abuse The IR35 rules first came into force with the Finance Act 2000 with the aim of preventing contractors from avoiding paying their dues by drawing a tax-free salary from a company structure which they had created for that precise purpose. According to HMRC, someone earning £100,000 over the period of a […]