Student Loan Plan Thresholds April 2019 HMRC have announced the increase in Student Loan Plan 1 and Plan 2 thresholds from 6 April 2019 and Postgraduate Loans (PGL). The thresholds of Plan 1 and Plan 2 Student Loans are increasing from April 2019. The current thresholds for the tax year 2018-19 are: • Plan 1…
National Minimum Wage April 2017 Employers should note the latest national minimum wage increase that comes into effect on 1st April 2017. The new rates are:- Apprentice £3.50 per hour Under 18 £4.05 per hour 18 to 20 £5.60 per hour 21 to 24 £7.05 per hour 25 + …
Auto Enrolment Fines rise Auto Enrolment Fines have risen in the last 3 months. Employers have been warned by The Pensions Regulator (TPR) that if they ignore their auto-enrolment duties they could find themselves with a large fine and county court judgment (CCJ). Data from TPR shows the number of fines associated with implementing workplace pensions has…
Autumn Statement Review 2016 Autumn Statement Review 2016 For Employers The new chancellor has announced the autumn statement review. We look at this from an employers viewpoint. National Living wage A rise in the National Living Wage will come into effect from April 2017. For over 25’s this will increase from £7.20 to £7.50 per…
National Minimum Wage Latest Increase National Minimum Wage Increase Has Come Into Effect From October 2016 National Minimum Wage Latest Increase has now come into effect, which was announced earlier this year. For 21 to 24-year-olds this rises to £6.95 per hour. For 18 to 20 year olds it rises to £5.55 per hour. For Under 18’s it rises…
Employers are you claiming your Employers Allowance? Most employers are entitled to claim Employers allowance worth £3000 this tax year against your business National Insurance, but many are missing out. We have identified refunds worth £16,000 for new clients in April alone when setting up their payroll. Many small employers running their payroll in house appear to be unaware of this significant…
IR35 Test Case HMRC has won its first IR35 test case. The Managed Serviced Company (MSC) rules were introduced from 6 April 2007 to crack down on businesses that ignored the IR35 rules on an industrial scale. Those businesses provided tens of thousands of workers such as cleaners, drivers and security guards, with packaged service companies.…
Employers Allowance For NI We have noticed a number of new clients have not been claiming their Employers Allowance for NI through payroll. We have saved each client up to £4000 each when taking over new payrolls recently and checking if they have enabled the employment allowance claim. This is easily missed, particularly by smaller employers without…
National Minimum Wage Increase 2016 National Minimum Wage Increase From 1st October 2016 The government have announced a national minimum wage increase 2016 for 21 to 24-year-olds by 3.7% to £6.95 per hour from 1st October 2016, after the Government accepted recommendations for the new rates from the Low Pay Commission (LPC). Workers aged between 18 and…
Budget 2016 Budget 2016 at a glance Chancellor George Osborne has delivered his Budget 2016, setting out the government’s latest plans for the nation’s finances. Here are some of the key points: The personal tax allowance will go up to £11,500 from April 2017. The chancellor says this will give 31 million people a tax cut,…
