23 March 2022
The Chancellor made his annual Spring Statement speech today where he set out the Government’s plan to support the UK economy, businesses and families.
Key measures announced relating to payroll include:
- an increase to the National Insurance Primary Threshold for Class 1 NICs from 6 July 2022, aligning it with the equivalent income tax personal allowance which is set at £12,570 per annum.
- Employment Allowance – which will be increased by £1,000 from 6 April 2022 to £5,000.
18 July 2019
Perhaps you started out on your own and then grew your workforce over time or maybe you’re a charity where the treasurer has responsibility for paying staff. In any event you may not know all the ins and outs of payroll. Times change and compliance is ever more important – the penalties for non-compliance have grown too. Payroll has grown more complicated in the last few years and that’s why so many employers have chosen to outsource this time consuming aspect of their responsibilities. Outsourcing can ensure you remain compliant:
Keeping up to date
Whenever there’s a major new payroll-based initiative to implement (workplace pensions or gender pay gap reporting, for example) we’ll know about it and help our clients put in place the necessary measures. Outsourcing payroll means you’ll never find yourself thinking ‘wow, when was that law introduced?’ because your payroll provider will ensure you’re always well prepared.
Workplace pensions have been around for a while now but if you’re a growing business facing auto-enrolment for the first time it can be a time consuming challenge to ensure you’re meeting all your obligations.
Dedicated providers help employers manage the day to day interaction between themselves and their schemes, ensuring payments are never missed. They’ll also be able to offer assistance and advice in setting a scheme up in the first place.
A growing workforce means a growing number of demands on your time as you’re required to process overtime payments, maternity, sick leave and more. A payroll provider will be able to make all of these easier. Compliance and staff management can be made much easier to deal with.
Outsourcing ensures everything that should happen does happen – and it happens on time. Staff and HMRC are kept happy!
Thinking of outsourcing your payroll? Talk to us.