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Payroll

Employers – Upcoming Changes 2024

The new tax year begins on 6th April and for employers running monthly payrolls, the March pay run will be the last of the 2023/24 tax year. Some things you will need to make sure you do and when you need to do them are listed below: If you need any help with your end […]

Read more March 20th, 2024

Budget Summary Spring 2024

Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to National Insurance contributions (NICs), following the cuts made in the Autumn Statement 2023. The rates for NICs will be […]

Read more March 7th, 2024

Reporting PAYE Information In Real Time

Some employers pay their employees earlier than usual over the Christmas period. This can be for a number of reasons, for example, during the Christmas period the business may close, meaning workers need to be paid earlier than normal. If you do pay early over the Christmas period, please report your normal or contractual payday […]

Read more December 6th, 2023

Budget Summary Autumn 2023

On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National Insurance changes and also the reform of work-related state benefits. Download our Autumn 2023 Budget […]

Read more November 23rd, 2023

Planning A Staff Summer Barbeque?

Employers may meet the cost of certain social events for staff without creating a tax liability. This used to be a concession but is now a statutory exemption provided certain conditions apply. The exemption applies to an “annual party or similar function” provided it is available to all employees or available generally to those at […]

Read more August 8th, 2023

2022/23 P11d Forms To Be Submitted Online

The deadline for filing the P11d forms to report benefits in kind in respect of directors and employees for 2022/23 is 6 July 2023. Note, however, that the original and amended reports must now be made online and paper returns will be rejected. Forms P11D and P11D(b) returns must be submitted online through one of […]

Read more May 4th, 2023

Budget Summary Spring 2023

On 15 March 2023, Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. The Chancellor announced a £27 billion transformation of capital allowances from April this year, which will include the Full Expensing […]

Read more March 16th, 2023

National Minimum Wage April 2023

National Minimum Wage (NMW) and National Living Wages (NLW) increased from 1 April 2023. Please see the table below for the new rates: Employers should review the ages of employees to ensure they are paid the correct gross pay when carrying out your payroll procedures. At Shapcotts we check an employee’s age as part of […]

Read more February 21st, 2023

Budget Summary Autumn 2022

On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. Chancellor Jeremy Hunt laid out three core priorities of stability, growth and public services. The government sought a balanced path to support the economy and return to growth, partially through public […]

Read more November 18th, 2022

Mini-Budget Summary September 2022

The week leading up to Chancellor Kwasi Kwarteng’s ‘Mini Budget’ may have been a short one due to the Queen’s funeral but the new government managed to fill it with a stream of policy announcements. Before Mr Kwarteng stood up to make his statement on ‘The Growth Plan’ much of what he had to say […]

Read more September 24th, 2022

Don’t Forget To Claim The Employment Allowance

The Employment Allowance (EA) is a £5,000 allowance set against employers National Insurance Contributions (NICs) and has to be claimed each tax year if the employer qualifies. This allowance was introduced in 2014/15 and was increased to £5,000 from 2022/23. Employers make a claim for the Employment Allowance through their payroll software. They do this […]

Read more May 23rd, 2022

Employers NICs In Relation To Ex-Military Staff

Last year the Government announced a one-year exemption from paying employers national insurance contributions (NICs) where military veterans are recruited by civilian employers. Employers can claim relief from employer NICs for the first 12 months of the veteran’s first civilian job after they leave the military. For 2021/22 employers had to initially pay the employers […]

Read more May 10th, 2022

National Insurance Contributions Update

Despite lobbying to delay the upcoming 1.25% increase in National Insurance Contributions (NICs) payable by employees, employers and the self-employed, the government has decided to go ahead as planned from April 2022, to provide additional funds for health and social care. Some new measures have however been announced in an attempt to combat the effect […]

Read more April 14th, 2022

Payrolling Benefits In Kind

HMRC are encouraging more employers to payroll employee benefits in kind rather than declaring benefits on the end of year P11d forms. If employers haven’t already done so they should register online with HMRC on or before 5 April 2022 to payroll employee benefits for the upcoming 2022/23 tax year.The advantages of payrolling benefits in […]

Read more March 7th, 2022

Statutory Sick Pay Rebate Scheme

The Government has reintroduced the Statutory Sick Pay Rebate Scheme (SSPRS). This is a temporary scheme to support employers facing heightened levels of sickness absence due to COVID-19. The SSPRS will refund small and medium-sized employers’ COVID-related SSP costs for up to two weeks per employee. To qualify for the scheme employers must have less […]

Read more January 21st, 2022