Category: Employer

Comments Off on Expenses and benefits deadline looms

Expenses and benefits deadline looms

Expenses and benefits deadline looms

Expenses and benefits not payrolled for the 2016/17 tax year will need to be reported to HMRC by 6 July 2017. Employers can report them by completing specific forms which are available to download on the HMRC website. There are 2 forms to complete – P11D and P11D(b). What to do You need to fill … Continued

Comments Off on Auto-enrolment minimum contribution increases

Auto-enrolment minimum contribution increases

Auto-enrolment minimum contribution increases

By law, under automatic enrolment, minimum pension contributions are required to increase over time on set dates. Increases from the current total minimum contribution of 2% of “qualifying earnings” take place on 6 April 2018, rising to 5%, and on 6 April 2019, reaching a total minimum amount of 8% You can choose to pay … Continued

Comments Off on Real-time Information and PAYE update

Real-time Information and PAYE update

Real-time Information and PAYE update

HMRC are making changes to PAYE so that more people pay the right amount of tax on their income as they earn it. For the c. 41 million Pay As You Earn (PAYE) taxpayers the tax they owe is deducted from their income using information their employer gives to HMRC. HMRC say the new changes … Continued

Comments Off on Gender pay gap reporting becomes law

Gender pay gap reporting becomes law

Gender pay gap reporting becomes law

Employers with more than 250 staff are now required by law to report gender pay gaps, following the introduction of new legislation. Employers must publish the following figures by April 2018: their median gender pay gap – difference between midpoints in the ranges of men’s and women’s pay their mean gender pay gap – difference … Continued

Comments Off on Employers should be aware of the pitfalls of NLW and NMW

Employers should be aware of the pitfalls of NLW and NMW

Employers should be aware of the pitfalls of NLW and NMW

The National Living Wage (NLW) for those aged 25 and over was increased on 6 April 2017 from £7.20 per hour to £7.50 per hour. It should be noted that the increases in the NLW rates are in April whilst those for NMW are in October and employers have to address these increases on a six monthly … Continued

Comments Off on Company car advisory fuel rates from 1 March 2017

Company car advisory fuel rates from 1 March 2017

Company car advisory fuel rates from 1 March 2017

HMRC has published revised advisory fuel rates for company cars, applying from 1 March 2017. The rates are to be used only where employers either reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel. These rates apply from 1 March 2017. You … Continued

Comments Off on Payrolling benefits – Action needed before 5 April 2017

Payrolling benefits – Action needed before 5 April 2017

Payrolling benefits – Action needed before 5 April 2017

If you want to avoid completing forms P11D for benefits provided to your employees for 2017/18, you will need to apply to do so before 5 April 2017. Since 6 April 2016, you have had the option to process benefits in kind through the payroll. So long as the relevant tax is collected through the … Continued

Comments Off on Apprenticeship levy approaches

Apprenticeship levy approaches

Apprenticeship levy approaches

Apprenticeship levy approaches Businesses are preparing for the apprenticeship levy which is due to launch on 6 April 2017. Employers with an annual turnover of over £3 million will have to pay a 0.5% levy of their wage bill into apprentices and training for their business. An annual levy allowance of £15,000 will also be … Continued

Comments Off on Pensioners staying in work drives up retirement income

Pensioners staying in work drives up retirement income

Pensioners staying in work drives up retirement income

Pensioners staying in work drives up retirement income The rise in the proportion of pensioners in employment accounts for a quarter of pensioner income growth, according to the Resolution Foundation. Since 2001 average pensioner income has grown so that now a typical pensioner household is £20 a week better off than a typical working household. … Continued

Comments Off on Auto Enrolment – non-compliance risks your credit rating

Auto Enrolment – non-compliance risks your credit rating

Auto Enrolment – non-compliance risks your credit rating

Auto Enrolment – non-compliance risks your credit rating The Pension Regulator has reported that they are beginning to see the first employers receive County Court Judgements (CCJs) for a failure to pay their automatic enrolment fines. This can happen when they persistently ignore the penalty notices sent to them. If they don’t pay the fine … Continued