Chancellor Rachel Reeves delivered the first Autumn budget under the new Labour Government on 30 October. Here is a summary of the payroll related content. National Living and Minimum Wage NLW From April 2025 the National Living Wage will increase to £12.21 per hour for all eligible employees aged 21 and over. NMW Increases will […]
Read articleOverall, while major tax rate increases on income and VAT are unlikely, targeted measures focusing on wealth and business taxation are expected to help fill the fiscal gap Student Loans, April 2025 For student loan interest rates in the UK from April 2025, projections suggest they will vary depending on the loan plan. The repayment […]
Read articleHMRC has published the latest Agent Bulletin for September, information provided are for those that provide services to payroll professionals, either directly running payrolls or providing Bureaux/Accounting services to clients. Included in the bulletin is a reminder that the new Statutory Neonatal Care Pay and leave (SNCP) will come into force in April 2025. This […]
Read articleHMRC is providing assistance to customers who may be experiencing difficulties with repayment of outstanding tax liabilities that might be due. The Self-Serve Time to Pay has now been introduced to support customers with Simple Assessment debts. The arrangements offer customers the opportunity to set up a payment plan to pay off their debt by […]
Read articleHMRC has published the latest update for pension scheme administrators about the ending of contracting-out in countdown bulletin 39. This edition discusses scheme financial reconciliation, whereby all schemes will be offered the opportunity to request their financial position. Following testing, all schemes currently in scope can request their financial position as at 7 October 2018. Schemes […]
Read articleLast week’s Budget 2018 announced a number of changes to the main Income Tax rates and allowances for the 2019/20 tax year. HMRC has published an annex, which includes the main rates and allowances announced in the Budget 2018, and is useful as a single point of reference for the latest changes. The annex also covers all […]
Read articleHMRC has published the latest update for pension scheme administrators about the ending of contracting-out in countdown bulletin 38. This edition includes updates on:
Read articleHMRC has published its latest Employment Related Securities (ERS) Bulletin which provides information and updates on developments relating to ERS, including tax-advantaged employee share schemes. ERS bulletins are published when articles or updates become available and when HMRC has items to bring to your attention quickly. This latest edition includes articles on:
Read articleThe National Living Wage (NLW) will rise to £8.21 from April 2019 an increase of 4.9 per cent, while the government has also accepted the Low Pay Commission’s (LPC’s) above inflation recommendations to increase the National Minimum Wage (NMW). Philip Hammond announced the increases in his 2018 Budget speech, stating: “Delivering higher wages for those […]
Read articleEmployers have been reminded that they only have until 5 November to submit their responses to the consultation into the scope of the Welsh rates of Income Tax. The Wales Act 2014 introduces the Welsh rates of Income Tax, which will be implemented in April 2019. This requires technical changes to legislation to ensure the new Welsh […]
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