Latest Payroll
Latest Payroll
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…
National Payroll Week – Keeping the UK Paid
2019 marks the 21st Anniversary of National Payroll Week which is from 2 to 6 September 2019. National Payroll Week recognises and celebrates the importance of payroll in business and the UK economy. Not many people may know that there are 1.3 million employers in the UK and that Payroll is the largest expenditure…
Company car tax changes – Government will remove BIK company car tax on Electric Vehicles from 2020/21
The government has provided positive news for Company car drivers announcing that a pure electric vehicle (EV) will no longer pay benefit-in-kind (BIK) tax in 2020/21 following a review which looks set to boost sales of emissions-free cars. HM Treasury’s response to its review of the fallout from the roll-out of the Worldwide Harmonised Light…
PAYE Settlement Agreement Deadline – 6 July 2019
A PAYE Settlement agreement allows employers to make one annual payment to cover the tax and National Insurance liability on minor, irregular or impracticable expenses for any employees. HMRC have now changed the process for PSAs and, instead of applying for a new PSA annually, from 2018-19 employers will have an enduring agreement and therefore…
Let’s get trivial
Trivial benefits are exempt from income tax and Class 1A NIC and therefore not reportable on a P11D. With the P11D deadline of 6th July fast approaching, I thought now would be the perfect time to review exactly what criteria needs to be met in order to qualify as ‘trivial’. Benefits are exempt from tax…
Employee vehicles: Mileage Allowance Payments (MAPs)
MAPs are what you pay your employees for using their own vehicle for business journeys. You can pay your employees an approved amount of MAPs each year without having to report them to HMRC. To work out the approved amount, multiply your employee’s business travel miles for the year by the rate per mile for…