Higher Rate Threshold Frozen in Scotland 2016 The increase to the higher rate threshold announced in the Budget 2016 will not be passed on under proposals by Scotland’s First Minister, Nicola Sturgeon. Instead, the higher rate threshold will be frozen in real terms and increased only in line with CPI inflation in 2017/18 and by no more than…
Auto Enrolment Presentation Carl Wright is making a an auto enrolment presentation For FSB members and guests In Elgin Every employer – even if they only employ one person – must automatically enrol workers onto a workplace pension scheme if that worker is aged between 22 and the state pension age and earn more than £10,000 per…
Payrolling Benefits In Kind Supplementary guidance for payrolling benefits in kind has been published on the Gov.uk website. You can view the new guidance here. Statutory payrolling of benefits in kind (PBIK) comes into effect on 6 April 2016. Those intending to start or continue payrolling benefits and expenses in the 2016-2017 tax year must register with…
New National Living Wage Starts April New National Living Wage In April the Governments new National Living wage will become law. If you’re an employer from 1st April 2016 you will need to make sure you’re paying your staff correctly. The New National Living Wage will be enforced as strongly as the National Minimum Wage. Employees aged 25…
Auto Enrolment Confusion There is much auto enrolment confusion with nearly half of employers staging for auto enrolment in the next two years being confused about their responsibilities, according to research. The survey by the Federation of Small Businesses (FSB) found that 45% of those asked were unclear on the rules, while 25% feared their business…
Student Loan Changes 2016 – 2017 The new tax year means payroll will be responsible for the collection of two Income Contingent Student Loan Plan types through the payroll. Plan 1 These loans will have been taken out before September 2012 and are applicable UK wide. For 2016-17, these Loans will have an annual threshold…
Employment Allowance 2016 The Government announced in the Autumn Statement plans to increase the National Insurance contributions (NICs) employment allowance 2016 from £2,000 to £3,000 a year from April. For companies where the director is the sole employee this allowance is now being restricted. From April 2016 sole director companies where the director is the only…
HMRC Quarterly Business Tax Returns More than 100,000 small firms have signed a petition demanding a rethink on proposals requiring most businesses to file HMRC quarterly business tax returns instead of annual tax returns via digital tax accounts. The petition was started on 16 December 2015 on the Government’s own portal. It has now received over 100,000 signatures which is the…
Scottish Income Tax Rate Set 2016 Scottish income tax rate will remain the same in Scotland as in England when limited powers are transferred to Holyrood next year. The Finance Secretary John Swinney made the announcement to the Scottish Parliament as he unveiled his Scottish Budget to MSPs. Under the 2012 Scotland Act, Holyrood will…
Auto Enrolment Threshold 2016 / 2017 Unchanged The Auto Enrolment threshold for 2016 / 2017 will remain unchanged. This follows a recent Department for Work and Pensions (DWP) report recommending they remain unchanged. It provides supporting analysis as part of the annual review of auto-enrolment thresholds for 2016 / 2017. The DWP Review of the earnings trigger…
