An Update on Holiday Pay

The government has recently been circulating adverts promoting the holiday pay awareness campaign. ‘Holiday pay: it comes with the job’ is part of the modern Industrial Strategy, which aims to give employers and workers a better understanding of both workplace rights and responsibilities. Recent research suggests some 1.8 million people currently do not receive the … Continue reading An Update on Holiday Pay

OTS Calls for Review of PAYE System

In a new report, the Office of Tax Simplification (OTS) has called for the Pay as You Earn (PAYE) system to be reviewed, to ensure tax agents can 'see relevant client information' and 'access a number of key services'. The report suggested that tax agents 'don't always have full access to their clients' PAYE records'. … Continue reading OTS Calls for Review of PAYE System

Considering the National Minimum Wage

Getting minimum wage obligations right can be challenging for employers, as indicated by the findings of a recent report by the Low Pay Commission. The report found considerable levels of minimum wage underpayment. Overall, the report revealed that underpayment has been steadily increasing since the introduction of the National Living Wage in 2016. Here, we … Continue reading Considering the National Minimum Wage

Reviewing the Changes to Pensions Auto-Enrolment

From 6 April 2019, minimum employer and total contributions into pension schemes rose. Here, we review these changes, and analyse the pensions auto-enrolment scheme in greater detail. Auto-enrolment: an overview Under the pensions auto-enrolment scheme, employers must automatically enrol eligible workers into a qualifying pension scheme. Employers’ duties include assessing the types of workers in … Continue reading Reviewing the Changes to Pensions Auto-Enrolment

New Tax Year, New Tax Rules: Are You Up-To-Date?

The start of the new tax year brought significant changes to legislation. It is also P11D season: these need to be completed soon. Increasing minimum wage From April 2019, the National Minimum Wage (NMW) and the National Living Wage (NLW) rates increased. From 1 April 2019, the hourly rates of pay are as follows: Age … Continue reading New Tax Year, New Tax Rules: Are You Up-To-Date?

What’s on Your Payslip?

New legislation came into force this month regarding employees’ payslips. There are two issues which are being amended: Firstly, under the new system employers will need to provide itemised payslips to every worker on their payroll, not just those classified as ‘employees’. Currently, employers are not obliged to issue payslips to contractors, freelancers, and other … Continue reading What’s on Your Payslip?

New Rules for Personal Service Companies

The 2018 Autumn Budget announced changes to the ‘off-payroll’ working (or ‘IR35’) rules, which are set to apply from April 2020. This may affect you if you work on a contract through a personal service company (PSC) in the private sector, or hire or place such workers. Similar rules already apply in the public sector. … Continue reading New Rules for Personal Service Companies

Increase to Directors Salary

Further to the publication of the rates and thresholds from HMRC, from 6 April 2019 we are advising our clients that directors will be able increase their current salary with no tax or national insurance deductions. Directors of Limited Companies will be able to increase their salaries from £702.00 to £719.33 per month, or weekly … Continue reading Increase to Directors Salary

Are You Making the Most of Pensions Tax Reliefs?

Experts have recently warned that thousands of over-55s are at risk of incurring charges and reducing the available tax relief if they continue to delve into their pension pots whilst benefiting from workplace pension contributions. This article takes a look at some key pensions tax reliefs and allowances. Relief on pension contributions All pension schemes, … Continue reading Are You Making the Most of Pensions Tax Reliefs?

New Statutory Payment Rates From April 2019

HMRC have published the statutory rates for Maternity pay, Paternity pay, Shared Parental pay, Adoption pay and Sick pay for use from April 2019. Statutory Maternity Pay (SMP) will rise from £145.18, or 90% of the employee’s average weekly earnings, if this is less than the statutory rate, to £148.68. This change will occur on … Continue reading New Statutory Payment Rates From April 2019