Articles and information in relation to UK Payroll for business, employers and employees.
HMRC have issued the March 2024 edition of the Employer Bulletin which brings the latest HMRC updates and guidance to support employers, payroll professionals and agents. On 6 March 2024, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Spring Budget. One of the headline tax measures relevant for employers was: Changes to … Continue reading March 2024 Employer Bulletin
With the rise in National MinimumWage and National Living Wage A frequent question on various Facebook and other social media groups is around training. It appears that some employers oblige their employees and workers to undertake training in the workplace or at home in the employees own unpaid time. the employer considering that training is … Continue reading NMW – Work related training is work time
The Student Loans Company is urging new students to apply now. The Student Loans Company (SLC) is urging new students to submit their student finance application now, as new research suggests almost half aren’t planning to apply until later in the year. The student finance application service for the 2024/2025 academic year opened earlier this … Continue reading Need a student loan – Apply now
The independent Inclusion at Work Panel has published a report (20th March 2024) on the state of equality, diversity and inclusion (EDI) business practices in the UK. Expert panel sets out how employers can move beyond ineffective diversity and inclusion practices New research finds employers aren’t properly equipped to implement EDI policies that are based … Continue reading End ineffective business equality, diversity and inclusion (EDI) practices
Source: PAYE RTI from HMRC The Office for National Statistics (ONS) estimates for February 2024 indicate that the number of payrolled employees rose by 1.2% compared with February 2023, a rise of 368,000 employees. This annual increase was largest in the health and social work sector, a rise of 210,000 employees. Payrolled employment increased by … Continue reading Payroll pays 30.4 million employees
A tax avoidance promoter whose schemes were used by locum doctors and nurses faces a £900,000 penalty for failing to co-operate with HM Revenue & Customs. IPS Progression Limited (IPS) paid their 1,593 scheme users largely with tax-free loans between April 2016 and April 2022. Some of the workers were locum doctors and nurses whose … Continue reading £900,000 penalty for promoter of tax avoidance scheme
Changes to HM Revenue and Customs’ (HMRC) helpline services are being halted while it considers how best to help taxpayers harness online services. HMRC announced changes to its helpline services 19th March 2024 to encourage people to go online first, following trials over the last year. HMRC reversed this with a further announcement on Wednesday 20th March … Continue reading HMRC helpline closure halted
So here we are again, the end of another UK tax year! At PAYadvice.UK we are seeing a high number of directors National Insurance Contributions questions and challenges! So what is going on in March 2024? Directors annual period Directors are classed as employees and pay National Insurance on annual income from salary and bonuses … Continue reading What’s going on with Directors National Insurance
HMRC has updated it pages with the latest addition to the ‘Current list of named tax avoidance schemes, promoters, enablers and suppliers’ section. Named tax avoidance schemes, promoters, enablers and suppliers The law allows HMRC to publish information about promoters, enablers and suppliers of tax avoidance arrangements under the publishing legislation included in Finance Act 2022 (the … Continue reading HMRC tax avoidance promoters naughty list grows
The government is legislating to require businesses to change the information they provide to HMRC through Pay As You Earn (PAYE) Real Time Information (RTI) returns completed by employers. The Finance Act 2024 introduced powers to enable the collection of additional data and for HMRC to specify, through Statutory Instruments, the particular information required. The draft regulations published on … Continue reading HMRC to collect worked hours paid data
HMRC are keen to hear views… about the 'Raising standards in the tax advice market: strengthening the regulatory framework and improving registration' consultation announced at Spring Budget 2024. The government is consulting on two new measures to raise standards in the tax advice market: strengthening the regulatory framework by exploring a proposal to require tax practitioners … Continue reading Consultation on raising standards in the tax advice market – this impacts Payroll service
Your Home Care Services Ltd (Company number 13286071) targeted vulnerable pensioners to sell home maintenance plans The company used aggressive tactics to sell unnecessary cover for household goods It also used a fictitious London address and failed to file company accounts A company which sold home service and maintenance plans has been wound-up after cold-calling elderly … Continue reading Cold-calling sales company shut down after targeting pensioners
Plans to boost economic activity while supporting vulnerable people with the cost of living will be driven through by Work and Pensions Secretary Mel Stride, as the Government unveiled its Budget for Long Term Growth. Household Support Fund extended with £500 million of support for the most vulnerable households Equivalent of 200,000 more in employment … Continue reading Employment boost of 200,000 as cost of living support extended
The chancellor Jeremy Hunt announced: We're reforming Child Benefit - raising the threshold and raising the taper. Nobody earning under £60,000 will pay the charge, and 170,000 families will be taken out of paying it altogether. This will benefit nearly half a million families, saving an average of £1300 next year. As announced at Spring Budget … Continue reading Child benefit changes – Budget 2024
Spring Budget 2024 speech as delivered by Chancellor Jeremy Hunt. Madam Deputy Speaker… As we mourn the tragic loss of life in Israel and Gaza, the Prime Minister reminded us last week of the need to fight extremism and heal divisions. So I start today by remembering the Muslims who died in two world wars … Continue reading Spring Budget 2024 speech
The following information has been issued by HMRC following the government spring budget held on Wednesday 6th March 2024. Dear PAYadvice.UK , Today, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Spring Budget speech and set out the government’s plans to bring forward a series of reforms to ensure the … Continue reading HMRC – Spring Budget 2024
The HMRC Software Developer Support Team have issued the following to developers in relation to the 2 percentage point cut to the main primary National Insurance contribution rates: On 6 March 2024, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Spring Budget announcements. The Government has announced changes to National … Continue reading April 2024 changes to NICs
As part of the 6th March 2024, the chancellor announced an increase to the VAT registration threshold “We should reward smaller businesses who make a big impact on our society & employ millions of people. That's why from April 1, we're increasing the VAT registration threshold from £85,000 to £90,000 - cutting taxes for small … Continue reading VAT threshold increases -Budget 2024
As part of the government budget 2024, the Chancellor has announced a new British ISA with an added £5,000 on top allowance. “Investing in great UK businesses helps to boost our economy. That’s why we’re announcing the British ISA – allowing people to invest up to £5,000 more, tax free a year in UK assets. … Continue reading New British ISA – budget 2024
In February the Government announced action to tackle the use of controversial 'fire and rehire' practices. Government acts against controversial dismissal tactics through a new statutory Code of Practice. Employment tribunals will have the power to apply an uplift of up to 25 percent of an employee’s compensation if an employer unreasonably fails to comply … Continue reading Crackdown on Fire and Rehire
The budget 2024, Wednesday 6th March 2024, announced a number of changes , some of which impact payroll software, service and professionals in the payment to employees. Speculation in the days leading up to the budget hinted at cuts to Income Tax Rates and alternated cuts to National Insurance contribution rates of up to 2p. … Continue reading Budget 2024 – Payroll impacts etc.
National Minimum Wage increases imminent National Minimum Wage applies to all employees and workers who have reached school leaving age at the relevant point to where they live in the United Kingdom and are at least 16. For pay reference periods starting on or after 1st April 2024, there are significant increases in the National … Continue reading Pay boost for 21 & 22 year olds and younger workers