Salary Sacrifice and Minimum Pay : benefit or a risk too far

Salary sacrifice schemes have become increasingly popular, often generated by employer efforts to save secondary National Insurance contributions with employers saving 13.8% in employment on costs. They have become a popular vehicle for offering various employment related reward strategies with popular use for: Pensions Cycle to Work Schemes Childcare Vouchers (although restricted with no new … Continue reading Salary Sacrifice and Minimum Pay : benefit or a risk too far →

Shamed for not paying minimum wage

524 businesses have been named for failing to pay the minimum wage Employers ordered to repay workers nearly £16 million, plus an additional financial penalty, after breaches left over 172,000 workers out of pocket. Comes as the National Living Wage is set to increase by 9.8% to £11.44 an hour on 1st April, as announced … Continue reading Shamed for not paying minimum wage →

Isle of Man budget 2024 changes

Sustainable finances and long-term stability were the key themes when Treasury Minister Dr Alex Allinson MHK unveiled his second Budget in the Isoe of Man Tynwald on Tuesday 20th February 2024. What are the payroll changes - Income Tax The higher rate of personal income tax will rise from the current 20% to 22% from … Continue reading Isle of Man budget 2024 changes →

Flexible Working changes April 2024

Flexible working laws are changing from 6th April 2024 Businesses will need to change how they manage flexible working requests from their employees.  All employees have the legal right to request flexible working – not just parents and carers. From 6th April 2024 employees will be able to make a statutory request to make permanent … Continue reading Flexible Working changes April 2024 →

Warning as scam Self Assessment referrals exceed 200,000

HMRC records a rise in the number of customers reporting 'suspicious contact' from fraudsters. With the Self Assessment tax deadline now well passed, HM Revenue and Customs (HMRC) is warning people to be wary of bogus tax refund offers. Fraudsters could set their sights on Self Assessment filers with more than 11.5 million submitting a … Continue reading Warning as scam Self Assessment referrals exceed 200,000 →

‘Fake DBS check’ recruitment scams

Coinciding with the Home Office Stop! Think Fraud campaign, the Disclosure & Barring Service is providing support to job seekers for a safer employment search. Persuading job seekers to pay for a non-existent DBS check is a tactic being used by fraudsters to extract cash from their victims, with January and February a peak period … Continue reading ‘Fake DBS check’ recruitment scams →

Double cab pickup benefit tax status change cancelled

HMRC originally issued updated guidance on the Benefit in Kind treatment of double cab pick-ups on Tuesday 12th February 2024. EIM23150 Car benefit: double cab pickups and the new EIM23151 Car benefit: double cab pickups 1 July 2024 onwards to clarify the new rules which will take effect from 1st July 2024. What is a double cab pickup? A … Continue reading Double cab pickup benefit tax status change cancelled →

February 2024 Employer Bulletin

HMRC have issued the February 2024 edition of the Employer Bulletin which brings the latest HMRC updates and guidance to support employers, payroll professionals and agents. The next Employer Bulletin is in March 2024 In this month’s edition of the Employer Bulletin there are important updates and information on: PAYE taxed award schemes 2024 National Insurance contributions … Continue reading February 2024 Employer Bulletin →

Efforts to tackle small pension pots step up a gear

A new group designed to help savers track their pensions was launched on 7th February 2024 by Pensions Minister Paul Maynard. Members will discuss the design and implementation of the proposed new consolidation system as part of new Small Pots Delivery Group. This represents a vital step in delivering greater value for money which could … Continue reading Efforts to tackle small pension pots step up a gear →

Construction contractor transferred Covid funds to his own bank

A man from east London must repay £10,000 within one week after falsely applying for a Covid Bounce Back Loan. Adam Lennard inflated the turnover of his East London Property Maintenance business to secure the loan He then used the funds for his own personal use He must pay half of the £20,000 back within … Continue reading Construction contractor transferred Covid funds to his own bank →

Pension AE: Earnings Trigger and Qualifying Earnings Band Frozen for 2024/25

Automatic enrolment (AE) into workplace pensions has been a great success to date. Since 2012 over 11 million people having been enrolled into a pension and over 2.3 million employers having met their automatic enrolment duties. Since the introduction of AE, total annual pension saving by eligible employees has increased by nearly £29 billion in … Continue reading Pension AE: Earnings Trigger and Qualifying Earnings Band Frozen for 2024/25 →

Work security check time is Working Time

An employment agency breached National Minimum Wage (NMW) regulations by not paying enough to cover waiting time for workplace security checks on their workers. Nexus Workforce Limited lost their appeal against a number of Notices of Underpayment for failing to pay NMW. During HMRC investigation - it was identified that workers were required to undertake … Continue reading Work security check time is Working Time →

Postgraduate Loan threshold for April 2024 frozen

The Student Loans Company and HM Revenue and Customs (HMRC) have confirmed that the Postgraduate Loan (PGL) threshold for 2024-2025 tax year. The annual thresholds and rates for PGL and for each of the Student Loan (SL) plan types are: The Plan Type 1 annual threshold for 2024 to 2025 is £24,990.00The deduction Rate is … Continue reading Postgraduate Loan threshold for April 2024 frozen →

His Majesty King Charles III Green Apprenticeships

Nuclear Restoration Services (NRS) is responsible for decommissioning the first generation nuclear and research sites across the UK, ensuring all our futures are safe, secure, and sustainable. They care for people, communities, and sites with sustainability at the core of everything they do and with that in mind they are pleased to announce that they … Continue reading His Majesty King Charles III Green Apprenticeships →

Six-year ban for boss who employed illegal workers

The owner of a Cumbria pizzeria and takeaway has been banned as a company director for six years after hiring two illegal workers. Dondu Ozmicco hired two illegal workers without conducting right-to-work checks at the pizzeria in Cumbria The workers were found during a visit from Immigration Enforcement, who handed the business a £20,000 fine … Continue reading Six-year ban for boss who employed illegal workers →

Students in England asked to sign up to SFE’s mailing list

The Student Loan Company (SLC) is encouraging prospective students to starting planning their student finance as Student Finance England (SFE) launches its mailing list The full-time, undergraduate application service for the 24/25 academic year is expected to open in March 2024, and by signing up, students will be among the first to receive an email … Continue reading Students in England asked to sign up to SFE’s mailing list →

Record numbers file Self Assessment on time

11.5 million Self Assessment customers submitted their tax returns by the 31 January deadline A record-breaking 11.5 million taxpayers submitted their Self Assessment tax returns for the 2022 to 2023 tax year by midnight on 31st January 2024 according to HM Revenue and Customs (HMRC) information. More than 12.1 million taxpayers were expected to file … Continue reading Record numbers file Self Assessment on time →