What you need to Know About Redundancy Pay
Redundancy pay is paid through the payroll. Under normal circumstances, it doesn't happen very often, but it still needs to be done right. So what do you need to know about redundancy pay? Who is eligible for Redundancy Pay? Employees whom you make redundant may be entitled to redundancy pay, which is referred to as a statutory redundancy payment. To be eligible for statutory redundancy pay, the employee must meet the following criteria: be an employee working under a contract of employment...
Late Filing of a Full Payment Submission
A Full Payment Submission is an electronic submission sent to HMRC. It contains employer & employee information, as well as payment information including pay and deductions made to each employee. This article looks at what can happen if an FPS is submitted late. When Should an FPS be Submitted? What Happens if it is Submitted Late? HMRC requires that an FPS is sent on or before an employee's payday, even if HMRC is paid quarterly instead of monthly. If an FPS is submitted late to HMRC they...
Workplace Pensions, Automatic Enrolment and the Declaration of Compliance
What is the Declaration of Compliance? The declaration of compliance is a form that tells The Pensions Regulator what your company has done to comply with your automatic enrolment duties as an employer. Completing one is a statutory requirement and if it isn't sent to The Pensions Regulator within five months of your staging date/duties start date, your company could be fined. The Declaration of Compliance Must Now be Filed Through the Pension Regulator's System An important change. Up until...
It’s P11D Time Again in the Payroll Year
There is always something that needs to be completed and submitted in the payroll year, and now that we are almost in June, that means that it?s nearly P11D time again. The P11D and P11D(b) forms must be submitted to HMRC by 6th July 2018. The P11D contains information of any expense payments, benefits and facilities provided to employees or Directors. The P11D(b) is used to inform HMRC of the amount of class 1A National Insurance Contributions due on expenses and benefits an employer has...
Minimum Wage Changes April 2018
The Minimum Wage Rates per Hour Changed from April 2018 The new rates are: These rates are for the National Living Wage and the National Minimum Wage. The rates change every April. Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice April 2018 £7.83 £7.38 £5.90 £4.20 £3.70 Apprentices are entitled to the apprentice rate if they're either: aged under 19 aged 19 or over and in the first year of their apprenticeship Example 1:An apprentice aged 22 in the first year of their apprenticeship is...
