Articles and information in relation to UK Payroll for business, employers and employees.
(c) PAYadvice Ltd 2024 Low Pay Commission recommendations accepted in full The Government has announced Tuesday 29th October 2024 its acceptance of the Low Pay Commission’s (LPC) recommendations on the rates of the National Minimum Wage (NMW), including the National Living Wage (NLW). The rates which will apply from 1st April 2025 are as follows: … Continue reading National Living Wage to increase to £12.21 in April 2025
Chancellor announces pay rise for over 3 million workers next year, as National Living Wage rises by 6.7%. Chancellor Rachel Reeves announces pay rise for over 3 million workers next year, as National Living Wage rises by 6.7% Pay boost worth £1,400 a year for an eligible full-time worker – a significant move towards delivering … Continue reading Autumn Budget 2024 – Pay boost for millions with National Minimum Wage increases
We’re changing the way the Minimum Wage is set so it keeps in line with the cost of living. What changes are being made to the Minimum Wage? The government are changing the way the Minimum Wage is set so it keeps in line with the cost of living. For the first time, the Low … Continue reading Minimum Wage changes
taking immediate action to fix the foundations of our economy Delivered Monday 8th July 2024 at HM Treasurd. Good morning. Last week, the British people voted for change. And over the last 72 hours I have begun the work necessary to deliver on that mandate. Our manifesto was clear: Sustained economic growth is the only … Continue reading Chancellor Rachel Reeves first speech
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
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
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.
"to make the tax system simpler and fairer" The government announced Tuesday 16th January 2024 as part of a package of measures that supports its ambition to simplify and modernise parts of the tax system. They claim to be doing this by using the efficiencies of digital service to drive public sector productivity and exploring … Continue reading Compulsory Payrolling of benefits on the table for April 2026
Originally started in readiness for 2021, PAYadvice.UK are constructing its popular PAYadvice Series Legislation Update 2024 for payroll. We believe that PAYadvice was the first organisation in the UK to bring together the various resources needed by payroll professional and payroll software developers in preparation for the April 2021 through April 2023 changes, even to … Continue reading Legislation updates 2024 for payroll