Making Tax Digital for VAT. Penalties for Late Filing and Late Payment
HM Revenue & Customs (HMRC) has announced two penalty systems for late filing and late payment of VAT under their Making Tax Digital (MTD) programme for VAT. These penalty systems are due to come into effect in April 2019, and we gibe brief details here. Whilst VAT is not part of payroll, the on-going process of MTD could easily see such penalties being extended into the PAYE arena. Watch this space What are the Penalties? Late filing of VAT returns will attract penalty points. These will...
Payroll Services and Payroll Giving
Payroll Giving is becoming more popular. This article looks at what Payroll Giving is defined as, how it works and the key things you need to be aware of as an employer to ensure everything is done correctly. Firstly, what is Payroll Giving? Payroll Giving is the term used to describe employees who money to charity without paying tax on it. It must be deducted through an employee?s wages or pension How does an employer set up and run a payroll giving scheme? Importantly, an employer must...
Calculating Final Pay When an Employee Leaves
As outsourced payroll specialists, we provide a full payroll service to our clients, who are mainly small businesses who do not have a separate function to handle payroll. This article details what areas need to be looked at when it comes to calculating the final pay that an employee is entitled to when they leave. Firstly, Their Basic Pay How much will the departing employee be due for the pay period in question? For example, if the employee is a monthly paid worker, but has left halfway...
Employment Allowance. Is Your Company Claiming it?
The Employment Allowance was introduced in April 2014 to encourage employers to take on more staff. It stands at £3,000 per year and works by claiming against your Employer's National Insurance Contributions. But did you know that as an employer you can claim it? Had you even heard of it? How Does the Employment Allowance Work? The Allowance is claimed through your payroll at the beginning of each new payroll year by submitting an EPS showing your claim. However, if you forget to claim it you...
Can Employers Underpay Employees, even with the National Minimum and Living Wages
The National Minimum and National Living Wages have been with us for some time, now, and yet it is the case that there are still many cases where employers underpay workers, either deliberately or accidentally. This article looks at how employees manage to underpay workers, despite the legislation, and what the Government is doing about it. In what ways do Employers underpay Workers? There are a number of ways: Incorrectly applying the accommodation offset Underpaying Apprentices Taking...
