The Pensions Regulator has urged employers to check their pensions auto-enrolment staging date, following the publication of its Spring 2014 Employer Awareness, Understanding and Activity Survey. According to the Survey, around one in five small business owners, and around half of micro-business owners, do not know their exact staging date, despite it being necessary to…

Date posted: October 24, 2014

Minimum wage is on the rise from 1st October 2014, please see your new rates below:           Adult hourly rate of the minimum wage will increase from £6.31 to £6.50         Development rate (which covers workers aged 18-20 years) is up 2% from £5.03 to £5.13         Rate for 16 to 17-year-olds rises by 2% from £3.72…

Date posted: September 17, 2014

The Employment Allowance (introduced 6th April 2014) is a reduction in Employer’s National Insurance contributions of up to £2,000 per year. It is designed to benefit small business owners who employ staff. Do you qualify?: It applies to Sole Traders, Limited Companies and/or Partnerships who employ staff. It applies to single-person Limited Companies who do…

Date posted: May 14, 2014

Pay-as-you-earn (PAYE) schemes that have been inactive for a minimum of 120 days will be automatically cancelled, according to HM Revenue and Customs (HMRC). The tax authority has announced that an RTI206 letter will be issued to an employer whose scheme is due to be shutdown, following an automated review of Revenue records. HMRC believes…

Date posted: May 14, 2014

HMRC has warned employers who have failed to follow the new real time information (RTI) process to “act now” to avoid fines. HMRC reported that 167,000 employers who has missed the deadlines for reporting PAYE in real time? Throughout September HMRC will be contacting businesses across the UK who are still failing to comply with…

Date posted: May 14, 2014

Students working in summer jobs may receive a tax bill for the first time after HMRC made changes to how calculations are made. In the past Students have been able to fill in a P38(S) form to give to their summer employers, which meant they would not pay the basic rate of 20% tax. Most…

Date posted: May 14, 2014

HM Revenue & Customs has topped a list of the most irritating UK companies to call.. Unveiling the UK’s first ‘Phone Rage Index,’ a campaign group said HMRC ranked first for attracting the most votes (38,000 in a month), mainly for having more than 400 menu options across just six services. The rankings are drawn…

Date posted: May 14, 2014