The new chancellor has delivered her budget statement, which has a number of cost implications for businesses from April. National Living Wage The main adult rate of National Living Wage will rise in April from £11.44 to £12.21 per hour. The hourly rate for 18-20 year olds will rise from £8.60 to £10.00. Employer National […] Read more »
MANDATORY PAYROLLING BENEFITS IN KIND
The government will make the reporting and paying of Income Tax and Class 1A National Insurance Contributions (NICs) on benefits in kind via payroll software mandatory from April 2026, building on the progress already made on the government’s ambition to fully digitalise the reporting of benefits in kind. Mandation will simplify the tax affairs of […] Read more »
New Employment Legislation from 6th April 2024
National Minimum Wage Rates April 2024: The age for the National Living Wage rate will reduce from 23 year olds to 21 year olds. Under 18s and apprentice rates increase from £5.28 to £6.40 per hour 18 -20 year olds increase from £7.49 to £8.60 per hour 21 and overs increase from £10.18 or £10.42 […] Read more »
2024 Year End Preparations
We are nearing the end of the 2023-24 tax year and to help us all through a smooth year end process, there are certain things you can do to assist with your 2024 year end preparations: Data cleansing Check your payroll reports, payslips or employee data on the MyEpaywindow portal. Are the employees’ titles correct? […] Read more »
Changes To National Insurance Rates from 6th January 2024
It was announced in the Chancellor’s Autumn Statement in November 2023 that National Insurance rates were to be cut for millions of workers. The changes to National Insurance Rates from 6th January 2024 are as follows: Class 1 National Insurance contributions will be cut by 2%, reducing from 12% to 10%. There will be further […] Read more »