Articles and information in relation to UK Payroll for business, employers and employees.
Payroll managers, employers, do you employ those under the age of 21? HMRC are asking for your help to better understand the processes your company utilises to meet your National Insurance obligations, specifically relating to National Insurance category M individuals. They are interested in hearing from anyone who employs category M individuals regardless of whether you manage … Continue reading HMRC NI Category M – GNS Message Questionnaire
The Isle of Man budget 2023 held Tuesday 21st February 2023 announced the proposed adjustments and freeze of items relating to Income Tax and National Insurance. The full practice note and associated pages can be located on the following: PRACTICE NOTE 220/23 National InsuranceRates and Thresholds Income TaxRates and allowances The changes have been incorporated … Continue reading Isle of Man budget 2023 proposals for tax and National Insurance
The HMRC have update their employer guidance CWG2, CWG5 and also the guide to gross-up where employer pay the tax and NICs on expenses and benefits. CWG2 further guide to PAYE and National Insurance HMRC have issued the updated CWG2 for the 2023/2024 tax year (for the tax year which commences from 6th April 2023). … Continue reading HMRC issue guidance for 2023/2024 tax year
Employers are being encouraged to communicate where there are work associated expenses and allowances with their Employees so that they can quickly claim tax relief on expenses they are entitled to such as on work uniforms, clothing, tools, professional fees and subscriptions. The P87 form changed on 21st December 2022, and any claims must be … Continue reading Income tax relief for employment expenses
HM Revenue and Customs has, as part of the February 2023 Employer Bulletin, confirmed a concession on PAYE responsibilities for pay advances. Where there are arrangements between an employer and an employee, allowing employees access to some of their earned wages or salary before the normal pay day, or make similar arrangements through a third … Continue reading HMRC revise reporting obligations on pay advances
HM Revenue and Customs has informed employers as part of the February 2023 Employer Bulletin of changes to reporting benefits. Employers must register now Reporting expenses and benefits for the tax year ending 5th April 2023 From 6th April 2023 HMRC will no longer accept new informal payrolling benefits arrangements. For those employers who have … Continue reading Major changes to reporting benefits
This links to edition 100 of the online Employer Bulletin. In this month’s edition of the Employer Bulletin there are important updates and information on: PAYE Reporting advances of salary when paid on account of earnings Issuing of P9 coding notices to employers for 2023 to 2024 PAYE liabilities data available sooner Basic PAYE Tools … Continue reading February 2023 Employer Bulletin
The Department for Work and Pensions (DWP) has announced the appointment of Sara Weller CBE as the new permanent Chair of the Money and Pensions Service (MaPS). Sara Weller CBE Sara has been serving as a non-executive board member since September 2022 and will formally take up the role of permanent Chair on 29 March … Continue reading New Chair of the Money and Pensions Service
The DWP has signed the Age-friendly Employer Pledge, a nationwide programme run by the Centre for Ageing Better to promote age inclusive working practices. The Department for Work and Pensions (DWP) recognises the immense benefit that a multigenerational workforce brings and will encourage other government departments and employers to sign up. Permanent Secretary Peter Schofield … Continue reading DWP leads way supporting people aged over 50 at work
Taxpayers who have been fined for failing to file their Self-Assessment tax return on time may be able to have their penalties cancelled. The Low Incomes Tax Reform Group (LITRG) said that taxpayers who did not submit their 2021/22 Self-Assessment tax return online by 31st January 2023 may be able to get the automatic £100 … Continue reading LITRG explains how to challenge Self-Assessment late filing penalties
The review will examine how TPR is performing its role and where it can improve, providing greater efficiency and value to taxpayers. The Department for Work and Pensions has appointment Mary Starks to lead a review of The Pensions Regulator (TPR). This is in line with the expectation that public bodies are reviewed each Parliament. … Continue reading Mary Starks to lead review of The Pensions Regulator
More women will be helped back into the workplace following the launch of a Government-backed training programme. Women facing work barriers due to caring to be helped back to careers Minister for Women and Equalities invests in pilot to get returners into STEM 43% of STEM vacancies are hard to fill; women make up 29.4% … Continue reading More women to be supported back into STEM jobs
Bacs hash not required from 2023-24 On Monday 13th February 2023, the HM Revenue and Customs Software Developers Support confirmed to the software developer community the end of the BACS hash! A compulsory feature of 10 tax years for many has now been dropped. Once claimed that RTI BACS is such a powerful validation of … Continue reading HMRC drops the ‘best practice’ BACS Hash
A digital pound is likely to be needed in the future the Treasury and the Bank of England are consulting on a potential digital pound, or central bank digital currency (CBDC) a digital pound would be issued by the Bank of England and could be used by households and businesses for everyday payments in-store and … Continue reading Digital pound plan
Cohabiting parents with dependent children who need support following the death of their partner can apply for bereavement benefits The government has extended the eligibility criteria for Bereavement Support Payment and Widowed Parent’s Allowance, helping thousands more grieving parents to access this support. The benefits are designed to help parents with the financial impact of … Continue reading Bereavement benefits extended to unmarried cohabiting parents
Law will combat ‘one-sided flexibility’, where workers are often on standby for work that never comes Friday 3rd February 2023, the government supported Blackpool South MP Scott Benton’s Workers (Predictable Terms and Conditions) Bill, which will bring forward changes for tens of millions of workers across the UK. The move, which would apply to all … Continue reading New law gives more say over working hours
Families looking for childcare places during February half term could be missing out on a government top-up to help pay their childcare bill. As the February half term draws closer, families are being reminded that they can save up to £2,000 a year on childcare costs with Tax-Free Childcare. More than 401,300 families used the … Continue reading Boost your childcare budget this half term
HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 4%. The Bank of England Monetary Policy Committee announced on 2nd February 2023 an increase to the Bank of England base rate to 4% from 3.5%. HMRC interest rates are linked to the Bank of England base … Continue reading HMRC interest rates increased
The government will set out plans to robustly regulate cryptoasset activities – to provide confidence and clarity to consumers and businesses alike Consultation proposals include strengthening rules for crypto trading platforms and a robust world-first regime for crypto lending Announcement delivers on financial services roadmap by embracing technological change and innovation, delivering on the Prime … Continue reading Plans to regulate crypto and protect consumers