With so many changes happening in the world of payroll right now I thought it would be useful to remind you of what’s changing over the course of the next couple of years. If you outsource your payroll to us then we will of course ensure you comply and claim all of the allowances automatically. As ever, if you have any queries whatsoever then please don’t hesitate to contact me or one of the team.
6 Apr 15 – Any employees aged under 21 and earning under the ‘Upper Secondary Threshold’ (approx. £42,000) will no longer be subject to Employers’ National Insurance although the employee will still pay Employees’ National Insurance if earning sufficient salary. This will be a real help to businesses employing or considering employing young staff as it is a direct saving that will impact on ‘the bottom line’.
6 Apr 15 – The Employment Allowance of £2,000 has been extended by a year (make sure you’ve claimed your allowance for 2014/15 too before it’s too late) so most businesses will be entitled to a second Employers NI ‘cash back’ payment in the next tax year.
6 Apr 15 – Some businesses employing under 50 employees will have to start paying into Workplace Pension Schemes from this date. If this applies to you and you don’t have an Auto Enrolment Scheme in place already then you must deal with this as a matter of urgency as there are fines for businesses that do not comply. Most businesses of this size will have Staging Dates (the date you must start contributing) that fall in the 2015/16 tax year.
6 Apr 16 – From this date, apprentices under the age of 25 (and earning under the UST above) will no longer be subject to Employers’ NI.