Laws are in place to protect the well-being and education of young people while ensuring they have opportunities to gain valuable work experience. In the UK, strict regulations govern the minimum ages children can work and the types of employment they can undertake. In this guide, we’ll explore the key provisions of UK employment laws […]
Category Archives: Payroll
Undertaking a self-build project can be an exciting and rewarding endeavour, but it also comes with various financial considerations. One potential benefit for self-builders in the UK is the possibility of reclaiming VAT on certain building costs. In this guide, we’ll explore how to go about reclaiming VAT on self-builds, helping you maximise your financial […]
Running a payroll is a critical aspect of managing your business’s workforce effectively. It involves calculating employee wages, deducting taxes, and ensuring compliance with employment laws. In this guide, we’ll outline best practices for running a payroll efficiently, helping you streamline your operations and ensure accurate and timely payments to your employees. Running a Payroll: […]
Setting up a Payroll Setting up a payroll system is essential for any business with employees. Payroll involves more than just paying employees; it encompasses various tasks, including calculating wages, deducting taxes, and ensuring compliance with employment laws. In this guide, we’ll walk you through the process of setting up a payroll, helping you streamline […]
Paying your employees accurately and on time is a fundamental aspect of running a business. If you’re an employer in the UK, you’ll need to understand and manage Pay As You Earn (PAYE) taxes. In this guide, we’ll walk you through the process of how to pay PAYE, ensuring compliance with HM Revenue & Customs […]
When, like many of our clients, your business expands you may start thinking about taking on staff. It’s usually at this point we get asked “How do I register as an employer?” Registering as an employer is an important step for any business that plans to hire staff. It not only ensures compliance with HM […]
The government is expanding the current payrolling process for the reporting and payment of Income Tax and Class 1A National Insurance Contributions on benefits in kind. This will mean that payrolling of benefits in kind (BiKs) will be mandated from April 2026. More information is available about the Simplification Update statement on the parliament.uk website. Payrolling the […]
National Insurance rate changes took effect on the 6th of April 2024. This is how they affect you if you are Self Employed. Self-employed National Insurance rate changes The National Insurance contribution rates for the self-employed across the UK were cut by a further 2 pence at Spring Budget 2024, on top of the 1 […]
HMRC have launched an online National Insurance contributions checker tool where you can estimate how the April 2024 NI changes will affect you or your employees. Some employees, by now, will have received a payslip reflecting the main Class 1 National Insurance contributions rate reduction from 6 April 2024 from 10% to 8% and others […]
Last week, the Chancellor made his 2024 Spring Budget speech, setting out the government’s plans. These include bringing forward a series of reforms to ensure the tax system is simple, fair and keeps pace with economic developments. Personal Tax in the 2024 Spring Budget Speech National Insurance contributions (NICs) The government has announced a cut […]
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