When the new flat rate State Pension comes into effect on 6 April 2016, there will be winners and losers. The potential losers need to take action now. From that date you need to have 10 qualifying years in order to get anything. To get the maximum you will need to have 35 qualifying years – currently [...]
Good news. From 6 April 2015, you are no longer required to pay Employers National Insurance in respect of employees under the age of 21. There is a proviso that they earn under £815 per week but that is probably unlikely!
Is your payroll software able to cope with the new Not all payroll software is compatible with the new Auto Enrolment pensions regime. If software is not compatible, then separate manual records will need to be kept. This will be time consuming and complex and may mean the margin for errors (and potential penalties) is [...]
You have probably seen the Government’s advertising campaign about “Auto Enrolment” into “Workplace Pension Schemes” and may be wondering whether it affects your business. If you employ workers under a PAYE scheme then the answer is “YES”. If your business qualifies as a small business it is unlikely you will need to automatically enrol anyone [...]
It will soon be time for small and medium sized businesses to auto enrol workers into a pension scheme – It is important that businesses start planning for this sooner rather than later to avoid delays and penalties. What is Auto Enrolment? It is a new legal duty you need to follow as a business [...]
You have probably seen the Government’s advertising campaign about “Auto Enrolment” into “Workplace Pension Schemes” and may be wondering whether it affects your business. If you employ workers under a PAYE scheme then the answer is “YES”. If your business qualifies as a small business it is unlikely you will need to automatically enrol anyone [...]
From 6 April every employer business whether it is a company, a partnership or a sole trader can reduce the amount it pays for Employers’ National Insurance during the year to 5 April 2015. The maximum you can get back is £2000 in the year. The way it works is, if for example you pay [...]
As you are probably aware, from April 2013, HMRC are changing the way employers report payroll information. Rather than sending information at the payroll year end, information must now be reported in real time. This means sending details to HMRC every time you make a salary payment to an employee or director at the time [...]
There are not many things you can spend on these days which get you tax relief. Pensions have to be one of the best investments around and you get tax relief on what you put in – subject to certain restrictions. You can get relief on what you put in subject to a maximum of [...]
From this year a lot of people will no longer be entitled to Child Benefits. But, if you are a new mum, just because your partner earns over the current limit of £50,000 a year, does not mean you should not claim. Claiming for Child Benefit means the years for which you qualify for Child [...]