Articles and information in relation to UK Payroll for business, employers and employees.
HM Revenue and Customs is encouraging people to check their State Pension forecast using the HMRC app during Pension Awareness Week. Research shows 45 to 54-year-olds are more likely than any other age group to have never checked their State Pension, despite it being a key time for retirement planning. One in eight adults have … Continue reading 7 million in the dark about their State Pension
Care homes providing tailored nursing care to patients in the community will benefit from a funding rise of more than 5% to provide specialist care for some of the most vulnerable. This will help reduce the pressure on hospitals by preventing unnecessary admissions and supporting the discharge of individuals into social care settings to free … Continue reading Nursing funding boost to help better community care
Millions of working women will be better off with new measures being introduced to tackle historic gender pension gap. Millions of women working in local government will see their pensions improve under new reforms coming into force in April, as the government takes action to close the gender pension gap. These steps are to directly benefit working … Continue reading Pension scheme reforms to tackle gender pension gap
…to confront retirement crisis that risks tomorrow’s pensioners being poorer than today’s Almost half of working-age adults are still saving nothing with low earners, some ethnic minorities and the self-employed least likely to be pension saving. Revived Pension Commission will consider the long-term future of our pensions system to make today’s workers better off in … Continue reading Pensions Commission revived to confront retirement crisis
New targeted support regime to enable more people to make the most of their money The government to publish proposed draft legislation to support a new regime to give people the confidence to invest and make more informed decisions about their pensions The FCA has published draft rules for a new regime of targeted support … Continue reading New regime to give people the confidence to invest their pension
This Bill is set to transform the pensions landscape for years to come and put more money in people’s pockets as part of the Plan for Change Pension Schemes Bill could boost returns to pension saving by thousands of pounds Changes will also make it easier for savers to access and manage their pensions Working … Continue reading Workers in line for £29,000 boost due to pensions Bill
In March 2023, HM Revenue and Customs (HMRC) commissioned IFF Research to undertake research to understand the experiences, motivations, and attitudes of employers towards using salary sacrifice arrangements for pensions. The research also explored whether hypothetical changes to tax reliefs (such as reform of NICs relief) on pension salary sacrifice arrangements may impact employers’ motivations and attitudes … Continue reading Salary sacrifice pension attitudes
Millions of people across the UK will find it easier to manage and get more from their pensions thanks to the new Pension Schemes Bill. The Pension Schemes Bill claims to tackle schemes delivering poor returns for savers, combine smaller pension pots, and create bigger and better pension funds. These measures are to drive costs … Continue reading 20 million to benefit from new Pension Schemes Bill
PAYadvice.UK sees a number of social posts and questions around the effective payroll dates when crossing from the 2024/2025 tax year into the new 2025/2026 tax year. Most recently have related to poor business planning by some employers on the impacts of National Insurance increases relating to work undertaken in March 2025 or earlier which … Continue reading Payroll dates – what affects what?
Millions of people, including families, pensioners, carers and those struggling to find work are set to benefit from Autumn Budget reforms to boost work and tackle poverty. Welfare safety net will be strengthened with a new Fair Repayment Rate, an increase to benefits and an extension of vital crisis support. Carers will also see a … Continue reading DWP – Autumn Budget 2024 to drive up opportunity and drive down poverty
PAYadvice.UK is supporting Talk Money Week, which aims to break down barriers and make it easier for people to share their thoughts and feelings about money. It can be difficult to talk about money. That’s why #TalkMoney Week is a great opportunity to kickstart a conversation with friends, family or colleagues. In fact, building money … Continue reading Talk Money week – 4-8 November 2024
Millions of workers stand to benefit from greater financial security in later life following a consultation launch Government has unveiled plans to modernise pensions and give workers greater security in retirement Consultation has launched to extend Collective Defined Contribution (CDC) pension provision, helping support the Government’s growth mission Regulations form part of wider plans for future … Continue reading Millions to benefit from modernised pensions system
Thousands of people missing Home Responsibilities Protection on their National Insurance record could boost their State Pension HM Revenue and Customs (HMRC) is urging tens of thousands of people to check if they are eligible to boost their State Pension. Some parents who claimed Child benefit before 2000 are missing out on State Pension … Continue reading Check you’re not missing State Pension payments
Paul Maynard, Minister for Pensions Minister for Pensions Paul Maynard addressed an audience at the Professional Pensions Investment Conference on Thursday 23 November 2023. Thank you all for joining me today and thank you to the Professional Pensions Investment Conference for hosting me so generously. My job as Minister for Pensions is to ensure that … Continue reading Putting savers at the forefront and supporting the UK economy
Payments of up to £600 are landing directly in the bank accounts of around 11.5 million UK pensioners for the second year running. Comes as part of a Government package helping people of all ages, including recent £300 Cost of Living payments to more than seven million eligible households. The Government also confirmed an 8.5 … Continue reading Up to £600 winter support for pensioners
Minister for Pensions Laura Trott is today calling on pensioners to check if they are eligible for Pension Credit ahead of the launch of a new “Invitation to Claim” trial. DWP joins forces with charities and broadcasters to encourage pensioners to check their eligibility and apply for Pension Credit. Nearly 1.4 million pensioners in Britain receive … Continue reading Check eligibility for Pension Credit as Week of Action kicks off
More time is given to pay National Insurance contributions towards State Pension. Taxpayers now have until 5th April 2025 to fill gaps in their National Insurance record from April 2006 that may increase their State Pension - an extension of nearly 2 years. Extending the voluntary National Insurance contributions deadline until 2025 means that people … Continue reading Deadline for voluntary National Insurance contributions extended to April 2025
Withholding tips from staff becomes unlawful as the Tipping Bill achieves Royal Assent, with more than 2 million workers to have their tips protected. It is expected that Millions of UK workers will take home an estimated £200 million more of their hard-earned cash, as employers are to be banned from withholding tips under the … Continue reading New tipping law passed
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
In his speech Friday 27th January 2023, Chancellor Jeremy Hunt set out his vision for long-term prosperity in the UK. Good Morning Thank you for that welcome, thank you all for joining us at Bloomberg. From the way we communicate and collaborate, to the way we buy and sell goods and services, digital technology has … Continue reading Chancellor Jeremy Hunt’s speech at Bloomberg
HMRC have published their December 2022 edition of the employers bulletin. It covers a multitude of topics: PAYE Your employees may be eligible for tax relief on their work related expenses Reduction in the rate of National Insurance contributions from 6 November 2022 — updated guidance Payrolling expenses and benefits for the 2023 to 2024 … Continue reading December 2022 Employer Bulletin
Laura Trott is the new Minister for Pensions with responsibility for pensioner benefits including the State Pension, private and occupational pensions, and oversight of arms-length bodies such as the Pensions Regulator Laura Trott was appointed Parliamentary Under Secretary of State at the Department for Work and Pensions on 27th October 2022 and confirmed as Minister … Continue reading New Minister for Pensions – Laura Trott
Monday 17th October 2022 saw regulations to enable millions of UK savers to access their pensions information at the touch of a button having been laid before parliament. Marking another important milestone in the Department for Work and Pensions’ (DWP) progress towards making Pensions Dashboards a reality, the regulations outline how pension schemes will connect … Continue reading Pensions Dashboards – coming soon to a screen near you
Collective Defined Contribution pension schemes, or CDCs for short, will offer an alternative to the UK’s two primary pension scheme models, Defined Contribution (DC) and Defined Benefit (DB). CDCs have the potential to provide improved retirement returns for savers, with more predictable costs for employers. Both employers and employees contribute to a collective fund from … Continue reading New pension scheme type launched
The Mid-life MOT is a review for workers in their 40s and 50s that helps them take stock of their finances, skills and health, and enables them to better prepare for their retirement and build financial resilience. As part of the expansion, Mid-life MOTs will be delivered online, in the private sector and through the … Continue reading Tens of thousands will be helped to take stock of their work, wellbeing and finances through the DWP’s “Mid-life MOT” initiative.
The government announces millions of pounds of new measures to tackle unemployment amongst the over 50s on benefits. New measures set to help quarter of all jobseekers get back into workMulti-million package will increase jobcentre support for over 50s including those thinking about retirementLong term unemployed will be referred to the multi-billion-pound Restart Scheme which … Continue reading New support to help over 50s back into work
New measures to protect pension savers and help stop scam transfers in their tracks became law Monday 8th November 2021. The new regulations, which come into force on Tuesday 30th November 2021 mean suspicious transfers can be stopped from ending up in the hands of a fraudster, as pension trustees and scheme managers get new … Continue reading New measures protect pension savers from scams
Following concerns expressed to government on a purported tax relief anomaly between the Net Pay Arrangement where tax relief at the employees prevailing tax rate is given versus Relief At Source where a 25% top up is applied regardless. The government was concerned about the potential for a low-earning individual’s take-home pay to be affected … Continue reading Pension tax relief response – new NPA top-up
The SSP Rebate Scheme closed on 30th September 2021 and employers have until 31st December 2021 to submit any final claims, or to amend claims already submitted. As a reminder, if an employer with fewer than 250 employees and paid SSP to employees for sickness absence or self-isolation that was coronavirus-related on or before 30th September 2021, the employer was … Continue reading Final claims for the Statutory Sick Pay (SSP) Rebate Scheme
The Secretary of State for Work and Pensions explains uprating for State Pension and Industrial Death Benefit in relation to the general level of earnings for 2022 to 2023. Oral statement to Parliament With permission, Madam Deputy Speaker, I will make a statement on the annual up-rating of State Pensions and survivors’ benefits in Industrial … Continue reading Annual review of State Pension and Industrial Death Benefit rates
The Office for National Statistics report shows that the shift towards working from home seen during the coronavirus (COVID-19) pandemic may have helped enable older workers to remain in the labour market for longer. The report shows: Early exit of older workers from the UK labour market, between the age of 50 years and prior … Continue reading Home Working impact on older workers