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COVID-19 – Improving Cash Flow – Coronavirus Job Retention Scheme Claims
HMRC opened the Coronavirus Job Retention Scheme On-line Portal on Monday 20th April 2020, which allows employers to claim the Government Grant in respect of Furloughed employees. As cash flow is a priority, our payroll team is busy helping clients compile and submit claims at the earliest possible opportunity. At Whiting & Partners we…
COVID-19 – Updated Guidance re Life Events for Salary Sacrifice Arrangements
In light of the COVID-19 Pandemic, HMRC has updated it’s guidance for employers who offer salary sacrifice arrangements. Under the terms of a salary sacrifice arrangement, a ‘life event’ is a permitted reason to break the arrangement mid-term. Previously the list of life events was limited to marriage, divorce, and a partner becoming redundant…
Coronavirus Job Retention Scheme – HMRC Online Portal
Earlier this week, HMRC reached out to their ‘customers’ to inform them about the information which will be required for the Coronavirus Job Retention Scheme online portal, due to be open from 20th April 2020. The online portal will allow employers to submit information to HM Revenue & Customs about furloughed workers in order…
COVID-19 – Furlough for IR35 Workers in the Public Sector
The Government has issued guidance notes to clarify the extent to which the Furloughing arrangements can be offered to all public sector workers including contingent workers being paid under PAYE, through an umbrella or their own personal service company. This means that the scheme can be offered to those individuals who: work through a…
Job retention scheme furlough guidance – latest information
Many questions have been raised about how the scheme will operate. Based on the information published so far, here is ICAEW’s understanding of how the policy will work. https://www.icaew.com/insights/viewpoints-on-the-news/2020/mar-2020/coronavirus-job-retention-scheme-furlough-guidance
Employment Allowance Reform
The Employer Allowance was first introduced in April 2014, giving employers a reduction of £2,000 against their Employer’s NIC bill. This was further increased in value from April 2016 to £3,000 and in addition the scheme was reformed to exclude single-director companies. It has remained at £3,000 ever since and is claimed via…
Increases in National Minimum Wage Rates 2020
From April 2020 the National Minimum Wage will once again be increased, as per the below figures: Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice April 2019 (current rate) £8.21 £7.70 £6.15 £4.35 £3.90 April 2020 £8.72 £8.20 £6.45 £4.55 £4.15 Apprentices are entitled to the minimum wage…
Is it too early to talk about Christmas!
In December 2018 HMRC wrote to employers to advise of a temporary easement on reporting PAYE information in real time. This was for a number of reasons, one of which could be due to businesses closing over the Christmas period and therefore having to pay staff earlier than normal. HMRC have received feedback from…
Employer allowance – is it worth the hassle?
The £3000.00 employer allowance ceases at the end of the current tax year. From April 2020 employers will have to re-apply for a di minimis state aid based allowance. A new HMRC checklist will have to completed to declare the following; NIC contributions in the previous tax year were beneath £100,000; Confirmation that…