Category: Employer

Comments Off on Auto Enrolment – Ongoing Responsibilities

Auto Enrolment – Ongoing Responsibilities

Auto Enrolment – Ongoing Responsibilities

Automatic enrolment is a continuing process for employers – it doesn’t end once they’ve put their staff into a workplace pension. There are ongoing responsibilities you will need to complete after you’ve submitted your declaration of compliance. To stay compliant, you will need to: assess the age and earnings of their staff who aren’t enrolled … Continued

Comments Off on Government Announces Apprenticeship Levy Reforms

Government Announces Apprenticeship Levy Reforms

Government Announces Apprenticeship Levy Reforms

Chancellor Philip Hammond has announced a package of new measures to reform the under-fire apprenticeship levy. Under the revised rules, employers who pay the apprenticeship levy will be able to transfer a quarter of their funds to organisations in their supply chain, including smaller employers. Levy-paying businesses have been able to transfer up to 10% … Continued

Comments Off on Apprenticeships Fall 31% in the Last Academic Year

Apprenticeships Fall 31% in the Last Academic Year

Apprenticeships Fall 31% in the Last Academic Year

The number of people starting apprenticeships has dropped by 31% in the last 12 months, the Department for Education has claimed. In the academic year between August 2017 and May 2018 there were 315,900 apprenticeship starts, compared to 457,200 the same time the year before. Business groups including the British Chambers of Commerce (BCC) and … Continued

Comments Off on Working Pensioners Pay £8.6bn in Income Tax

Working Pensioners Pay £8.6bn in Income Tax

Working Pensioners Pay £8.6bn in Income Tax

Working pensioners are on course to pay £8.6 billion in income tax in 2018/19, according to Aegon. The number of pensioner households containing at least one person working beyond their state pension age increased from 12% in 1997/98 to an estimated 17% in 2018/19. Aegon estimates there are around 12.8 million people living in 8.7 … Continued

Comments Off on Deadline For Reporting Benefits in Kind Nears

Deadline For Reporting Benefits in Kind Nears

Deadline For Reporting Benefits in Kind Nears

Most employers are currently getting their houses in order when it comes to reporting employee benefits and expenses ahead of the 6 July 2018 deadline. At the end of the tax year, employers may need to inform HMRC if any taxable benefits were handed out to members of staff over the previous 12 months. These … Continued

Comments Off on Smallest Firms Hit by Higher Pension Costs

Smallest Firms Hit by Higher Pension Costs

Smallest Firms Hit by Higher Pension Costs

The Federation of Small Businesses (FSB) warned that the doubling of minimum employer contributions into workplace pensions from 6 April 2018 will “hit the very smallest firms and startups the hardest”. Firms in labour-intensive industries – such as retail, childcare and construction – will reportedly feel the impact most acutely. The FSB claims these sectors … Continued

Comments Off on Are You Sure You or Your Workers Are Self-Employed?

Are You Sure You or Your Workers Are Self-Employed?

Are You Sure You or Your Workers Are Self-Employed?

Last year we reported that the House of Commons Work and Pensions Committee published a report calling on the Government to close the loopholes that allow “bogus” self-employment practices, which burden the welfare state but reduce the tax contributions needed to sustain it. Most of the people working for organisations such as such as Uber, … Continued

Comments Off on One Million Firms Comply with Auto-Enrolment

One Million Firms Comply with Auto-Enrolment

One Million Firms Comply with Auto-Enrolment

The number of employers that have complied with auto-enrolment passed one million for the first time in January 2018. Data released by The Pensions Regulator showed the total number of employers to have completed their declaration of compliance stood at 1,032,567 in the first month of 2018. More than 600,000 employers complied with their duties … Continued

Comments Off on Apprenticeship Levy Leaves Firms Baffled

Apprenticeship Levy Leaves Firms Baffled

Apprenticeship Levy Leaves Firms Baffled

Almost a quarter (23%) of businesses paying the apprenticeship levy has no understanding of how it works – six months after its introduction. 56% of more than 1,400 firms surveyed by the British Chambers of Commerce (BCC) did not expect to recover their payment, despite receiving an annual allowance to offset against the bill. As … Continued

Comments Off on Rising national living wage hits SME profits

Rising national living wage hits SME profits

Rising national living wage hits SME profits

64% of small businesses are seeing profits fall as a result of the national living wage (NLW) rise, according to research. The NLW increased from £7.20 to £7.50 per hour on 1 April 2017. Out of 835 businesses surveyed by the Federation of Small Business (FSB), 39% have put up prices to cope with the … Continued