From April 2026, the government will mandate the reporting and payment of Income Tax and Class 1A National Insurance Contributions (NICs) on benefits in kind via payroll software. Why are HMRC mandating? HMRC is implementing this change as part of its wider plans to...
Many businesses ask ‘Why should I outsource the payroll service when I can do it in-house?’ and ‘What are the benefits to me as a business owner?’. Navigating payroll processing in-house can be stressful. Keeping abreast of current payroll...
In this article, I am going to look at National Insurance (NI) category letters, which is an area often overlooked by employers. In my 8 years of running payrolls, I see the same issues around which letter should be assigned to certain employees and so I will cover...
It is time to prepare the Forms P11D and P11D(b) for the 2023-24 tax year. The Forms are the employer’s responsibility. They are required for directors and employees who are provided with benefits or for whom you pay or reimburse non-deductible expenses. The Forms...
As we enter the 2024/25 tax year, below is a list of key tax changes that came into effect from the 6th April 2024. Individuals The personal allowance remains unchanged at £12,570. The personal allowance is the amount of income a person can earn before paying tax. The...
We have been aware for some time that in the current year, 2023/24, individuals with income taxed under PAYE (so employees in the main) whose salary and benefits do not exceed £150,000, will no longer be required to submit Self Assessment Tax Returns. This is good...
