Under automatic enrolment, minimum pension contributions are required to increase over time. With effect from 6th April 2018 the total contribution increases from the current minimum of a total contribution of 2% of qualifying earnings, to a total of 5%, and again on 6th April 2019, increasing to a total minimum of 8%. The employer […] Read more »
New Employers and automatic enrolment
Taking on staff is an essential part of growing a business and there are several things to consider, including automatic enrolment. Aside from checking whether you need to register as an employer with HMRC; checking if your employee has the legal right to work in the UK and taking out employer’s liability insurance, you will […] Read more »
Budget Changes that will affect your Payroll from April 2017
The March 2017 Budget has confirmed the following changes that will affect your payroll from April 2017: * The personal allowance increases from April 2017 from £11,000 to £11,500 making the standard tax code 1150L. * The 20% basic tax rate band increases from April 2017 £32,000 to £33,500 per annum. * The lower earnings […] Read more »
The Apprenticeship Levy
The Apprenticeship Levy will be introduced in April 2017 to all employers operating in the UK, with a pay bill over £3 million each year, to invest in apprenticeships. Your annual pay bill is all payments to employees that are subject to employer Class 1 secondary National Insurance contributions such as wages, bonuses and commissions. Apprenticeship […] Read more »
New auto-enrolment guidance and re-enrolment guidance
Hundreds of thousands of small employers will need to meet their pension duties in 2017 and so The Pensions Regulator has refreshed and updated their website with new auto-enrolment guidance and re-enrolment guidance to make it simpler for employers to understand their duties. They have made choosing a pension scheme for staff easier with the […] Read more »