More about emergency tax codes

More about emergency tax codes

by | Apr 4, 2024 | Payroll

The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to deduct from an employee’s pay packet.  The basic...
A reminder that NLW and NMW rates are increasing

A reminder that NLW and NMW rates are increasing

by | Feb 15, 2024 | Payroll

A reminder for our readers that the National Living Wage (NLW) and the National Minimum Wage (NMW) rates will increase with effect from 1 April 2024. The increase will see the NLW rate increased to £11.44 per hour, an increase of over £1 over the current...
Correcting payroll mistakes

Correcting payroll mistakes

by | Jan 25, 2024 | Payroll

Employers generally use payroll software or other payroll services to record employees pay, deductions and National Insurance contributions on or before each payday. They also need to consider other deductions such as pension contributions and student loan...
Assets made available to an employee

Assets made available to an employee

by | Jan 25, 2024 | Payroll

Assets such as computers, televisions and bicycles that are made available to employees can create certain tax, National Insurance and reporting obligations. There is no requirement to report anything to HMRC if the asset is office equipment only used for...
Year end payroll reporting

Year end payroll reporting

by | Jan 18, 2024 | Payroll

It is not that long until the current 2023-24 tax year comes to an end and there are a number of year end payroll chores that must be completed. This includes sending a final PAYE submission for the tax year. The last Full Payment Submission (FPS) needs to be...
Reporting early payment of wages before Christmas

Reporting early payment of wages before Christmas

by | Oct 19, 2023 | Payroll

There is a permanent easement in place for employers to report PAYE information in real time 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...