Category: Employer

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

Recruiters are finding it difficult to hire new staff due to increasing competition for highly skilled employees, a study has found. Of 400 recruitment agencies surveyed by IHS Markit for the Recruitment and Employment Confederation (REC), 40% found the availability of temporary staff had got worse in July 2017 compared to the previous month (35%). … Continued

Expenses and benefits not payrolled for the 2016/17 tax year will need to be reported to HMRC by 6 July 2017. Employers can report them by completing specific forms which are available to download on the HMRC website. There are 2 forms to complete – P11D and P11D(b). What to do You need to fill … Continued

By law, under automatic enrolment, minimum pension contributions are required to increase over time on set dates. Increases from the current total minimum contribution of 2% of “qualifying earnings” take place on 6 April 2018, rising to 5%, and on 6 April 2019, reaching a total minimum amount of 8% You can choose to pay … Continued

HMRC are making changes to PAYE so that more people pay the right amount of tax on their income as they earn it. For the c. 41 million Pay As You Earn (PAYE) taxpayers the tax they owe is deducted from their income using information their employer gives to HMRC. HMRC say the new changes … Continued

Employers with more than 250 staff are now required by law to report gender pay gaps, following the introduction of new legislation. Employers must publish the following figures by April 2018: their median gender pay gap – difference between midpoints in the ranges of men’s and women’s pay their mean gender pay gap – difference … Continued

The National Living Wage (NLW) for those aged 25 and over was increased on 6 April 2017 from £7.20 per hour to £7.50 per hour. It should be noted that the increases in the NLW rates are in April whilst those for NMW are in October and employers have to address these increases on a six monthly … Continued

HMRC has published revised advisory fuel rates for company cars, applying from 1 March 2017. The rates are to be used only where employers either reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel. These rates apply from 1 March 2017. You … Continued

If you want to avoid completing forms P11D for benefits provided to your employees for 2017/18, you will need to apply to do so before 5 April 2017. Since 6 April 2016, you have had the option to process benefits in kind through the payroll. So long as the relevant tax is collected through the … Continued