CLAIM EMPLOYMENT ALLOWANCE FOR YOUR COMPANY AND SAVE MONEY
We recently started running payroll for a new client that had claimed Employment Allowance for the tax year 2020-2021, but for some inextricable reason had not claimed for 2021-2022, and because of this oversight, also wouldn’t be claiming for 2022-2023. As is our standard practice, we had undertaken a forensic assessment of the client’s payroll, prior to commencing processing, where we discovered this omission. (We do this to ensure that there are no previous errors and all the...
In 2019 more than 800,000 workers were missing out on pension contributions
Back in 2019, research by the Resolution Foundation into auto-enrolment enforcement revealed that over 800,000 workers (c.5% of all employees) who were eligible to receive a workplace pension had either not been enrolled at all by their employer, or were receiving contributions that were less than the minimum required level. After 4 years of research the total stands at 600,000 workers: read the Enforce for good report. It seems that many of these workers will not be aware that they are not...
Check your Payroll process!
During this last tax year, we have taken on many new clients. Several of them asked us to re-run their payroll from April 2022, to make sure that we had got a full tax year profile, of their payroll, on our system. During these transitions it was revealed that their previous payroll providers &/or their own in-house payroll administrator had not updated their software with changes made to NI contributions in July & November 2022.This error could have been problematic, for both the...
RTI and Payroll
The July 2015 Budget confirmed the importance of RTI The announcements made by the Chancellor in the budget of July 2015 confirmed the Government's intention to put work at the centre of welfare and social protection. The Budget's emphasis, that year, on supporting claimants in work meant that PAYE and RTI (real time information) remain perhaps the single most important public policy and tax reform of those years because employers and HMRC's reporting and management of PAYE, through the RTI...
Payroll and Christmas
Many employers give their employees a gift at Christmas, but have you considered whether there are any tax implications - and therefore payroll considerations - for the employee as a result of a Christmas gift? Here we look at forms of Christmas Gifts. The Christmas Bonus A Christmas bonus must be added to the recipient's pay for the payroll period it is paid in and tax and NI deducted as appropriate. Remember that if you want to give your employee a net bonus of say £500, after PAYE has been...
