HMRC has confirmed changes to its interest rates following the Bank of England’s decision on 5 November 2026 to raise the base rate from 3.75% to 4.00%. These adjustments affect late payments, repayments, and related tax regimes. Separately, the official rate of interest used for beneficial loans remains at 3.75%. These rates apply across major […]
Read articlePost Budget delivery on Wednesday 28 October, what are the implications for Payroll? Personal Allowance No increase to the Personal Allowance, it will remain frozen until 2031. The UK Tax rates and thresholds will also remain unchanged. National Insurance The weekly Lower Earnings Limit will increase by CPI 3.5% rising from £129 to £133. All […]
Read articleThe government has confirmed that tax-free mileage rates for employees and self-employed people who use their own vehicles for work will rise further from 6 April 2027, with the rate for business miles above 10,000 increasing from 25p to 35p. The change, announced on 26 October 2026 as one of a series of pre-Budget measures, […]
Read articleSee this month's most-asked payroll questions from sick pay to benefits in kind and how ASKTPC gives members the same answers instantly.
Read articleHMRC has published the Real Time Information (RTI) Data Item Guide for 2027–28, giving the first complete picture of the Full Payment Submission (FPS) data that will support Phase 1 of mandatory payrolling of benefits in kind from 6 April 2027. Compared with the current-year guide, the additions are almost entirely about benefits reporting and […]
Read articleThe latest edition of the employer bulletin (August)has been published. Included in the bulletin are reminders for employers to get ready for payrolling benefits. A reminder that the phased introduction will be brought in under two phases. Phase 1 Company cars and fuel, Vans and van fuel benefit and private medical and the introduction of […]
Read articleHMRC is urging tax agents to start conversations with employer clients now so they are ready for real-time reporting of benefits in kind (BiKs). Mandatory payrolling is coming in phases, and early preparation will make the transition smoother for payroll teams, software providers and employees. From 6 April 2027 to 5 April 2028, Phase 1 […]
Read articleIn a boost to encourage nursey school teachers to obtain degree level qualifications the government announced they will pay bonuses of £4,500 to any qualified teacher taking up a position in England’s most ‘deprived communities’, in a bid to provide expert support in the development of children in the early stages. Government educational statistics show […]
Read articleNew government guidance has clarified how Statutory Sick Pay (SSP) reforms will apply to employees whose sickness absences span the key implementation date of 6 April 2026, with particular implications for low-paid workers previously excluded from the system. The changes form part of a wider overhaul of employment rights and will significantly expand access to […]
Read articleOn October the 30th, 2024, the UK government revealed proposed increases to statutory payment rates and various benefits, which are set to take effect in April 2025. The announcement follows the statutory annual review of state pensions and benefits under the Social Security Administration Act 1992, aligning increases with key economic indicators such as average […]
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