Employers: Do you know your staging date for automatic enrolment?
Employer Staging Date for Automatic Enrolment UK law requires all employers, including small (5-49 employees) and micro (1-4 employees), to provide a workplace pension and automatically enrol eligible staff – this is automatic enrolment. Each employer has a staging date by which they need to comply with the law. Research by the Pensions Regulator has […]
Read morePhasing of HMRC Penalties
Phasing of HMRC Penalties HMRC are staggering the start of new automatic in-year late payment and filing penalties. Some good news for employers with up to 49 employees. Having listened to customer feedback HMRC is staggering the start of the new automatic in-year late payment and filing penalties. This will give HMRC and employers more […]
Read moreAuto Enrolment
Auto Enrolment Auto enrolment began in October 2012 with the largest businesses – those with more than 120,000 staff – starting first. As time goes on, smaller firms will start enrolling staff. Firms with fewer than 50 workers will begin enrolling their staff in June 2015 and all employers will eventually be obliged by law […]
Read moreEmployment Allowance: Up to £2,000 off your Class 1 NICs
Up to £2,000 off Class 1 Employment Allowance From 6 April 2014, eligible employers can claim the Employment Allowance and reduce their employer Class 1 National Insurance contributions (NICs) by up to £2000.00 each tax year. Employers can claim the Employment Allowance if they are a business or charity (including Community Amateur Sports Clubs) that […]
Read moreStaggered Start to the Introduction of Real Time Information Penalties
HMRC: Staggered Start to the Introduction of Real Time Information Penalties The new automatic in-year Pay As You Earn penalties was due to start from April 2014. These would have been for late filing and late payment and in-year interest, charged on tax and National Insurance Contributions paid late during the year. Real Time Information […]
Read moreRTI Starts This Weekend
Real Time Information – RTI – Starts This Weekend 6th April 2013 sees the biggest shake-up of the Pay As You Earn (PAYE) system in nearly 70 years. Employers will be required to move to a new way of reporting PAYE in real time, Real Time Information (RTI). The new system requires businesses to report […]
Read morePAYE Attention: RTI is coming!
PAYE Attention: RTI is Coming! Below is a recent notification from HMRC. The full article can be viewed here. Employers are being urged by HM Revenue and Customs to get ready for major PAYE changes that come into effect in three months’ time. In April 2013 employers will have to start sending PAYE returns electronically, using […]
Read moreReal Time Information (RTI) – Getting Ready
Getting Ready for Real Time Information (RTI) HM Revenue & Customs (HMRC) have released information about their records recently saying that over 80 per cent of the data quality problems it encounters are the result of incorrect information supplied. Statistics and records held by HMRC, provided by UK companies, currently show that: 824 employees have […]
Read moreBusiness Records Checks
Business Records Checks Last year HM Revenue & Customs (HMRC) devised and began testing a new compliance procedure – Business Records Checks (BRCs). The aim was to visit smaller businesses and identify those that are not keeping adequate records. However, professional bodies had serious concerns about the process, and in the face of these HMRC suspended […]
Read morePensions Auto Enrolment
Pensions Auto Enrolment The process of pension auto enrolment has begun. The process started with the biggest employers on 1 October 2012 and will be staggered over the next few years until 2018. The smallest employers begin auto-enrolment for their staff in January 2015. Contributions will start with employees paying in a minimum of 0.8% […]
Read moreNational Minimum Wage Changes
National Minimum Wage Changes From 1st October 2012 the National Minimum Wage (NMW) rates increase, the new rates are £6.19 – The main rate for workers aged 21 and over £4.98 – The 18-20 rate £3.68 – The 16-17 rate for workers above school leaving age but under 18 £2.65 – The apprentice rate, for apprentices […]
Read morePayroll Changes for 2011/12.
Payroll and PAYE changes are in effect for 2011 to 2012 with Tax and Accounts changes to tax and payroll thresholds. Basic rate tax is up.