Archive for the ‘Payroll’ Category

Now Pensions – Important Information released from the Pensions Regulator

Posted on: February 16th, 2018 by Sarah Curzon No Comments

On the 6th February 2018, the Pensions Regulator (TPR) announced that it has set NOW Pensions a deadline to resolve persistent administrative errors with the pension scheme.

Due to administrative errors carried out over a number of years, some scheme members savings have not been collected from employers and therefore not been invested.  As a result the TPR has fined the trustee (NOW: Pension Trustee Limited) a total of £70,000 for its failings.  (more…)

Workplace Pensions – Increase in Contributions

Posted on: February 9th, 2018 by Clive Headon No Comments

Here are some changes that you need to be aware of that are coming soon to your workplace pension contributions obligations, under Auto Enrolment.

If your pension scheme is being used for automatic enrolment, as from the 6 April 2018, all employers by law will be required to increase the minimum contribution that they currently pay into their employee’s pension scheme to at least 2% and employees will have to increase their contributions to 3% to bring the total minimum contribution to 5%.  (more…)

Under-25s push for national living wage equality

Posted on: November 7th, 2017 by Sarah Curzon No Comments

Workers under the age of 25 are missing out on more than £6,000 a year because they are not entitled to the national living wage (NLW).

Charity group Young Women’s Trust polled 4,010 people aged between 18 and 30, finding the average young worker is paid £3.45 an hour less for doing the same work as older people.

Over the course of the year, younger workers are receiving £6,279 less than their older colleagues. (more…)

TPR carries out spot checks on South Wales employers

Posted on: October 19th, 2017 by Clive Headon No Comments

Inspection teams have been visiting dozens of businesses in Cardiff, Newport, Caerphilly, the Vale of Glamorgan and Rhondda Cynon Taf to check that qualifying staff are being given the workplace pensions they are entitled to.

The move is part of a nationwide enforcement campaign by The Pensions Regulator (TPR) which began in London in April to ensure employers are meeting their automatic enrolment duties correctly. (more…)

New Auto Enrolment duties

Posted on: October 11th, 2017 by Sarah Curzon No Comments

Sarah Curzon, Director at MHA Broomfield Alexander explains the new Auto Enrolment duties and the impact this may have on your business.

Since 1 October 2017, a new employer has Auto Enrolment duties from the date they first start to employ a worker. If one or more employees are aged between 22 and the state pension age, and earn more than £10,000 per year; £833 per monthly; or £192 per week, they are usually “eligible” employees who must be auto-enrolled in a workplace pension scheme, unless they notify their employer they wish to opt out. (more…)

What are the main benefits of outsourcing your Payroll?

Posted on: October 6th, 2017 by Clive Headon No Comments

Outsourcing your Payroll may have crossed your mind at some point whilst running your business, but doubts may have taken your thoughts off track……

Will costs increase?
How much work is involved in handing it over?
Will it be time-consuming?
Can I trust another company to handle our confidential and sensitive information?

We can answer all these questions for you, below are key points as to why outsourcing your payroll to us could be massive benefit to your business: (more…)

Managing automatic re-enrolment

Posted on: October 2nd, 2017 by Clive Headon No Comments

Once you’ve been running auto-enrolment for three years you’ll need to re-enrol workers.

Over the last five years there has been a seismic shift in attitudes towards retirement saving.

Auto-enrolment means workplace pensions are now regarded by many employees as a normal part of working life. (more…)

What can you reclaim back through your PAYE scheme as an Employer?

Posted on: September 25th, 2017 by Clive Headon No Comments

As an employer paying Tax and NI over to HMRC, are you completely up to date with what you can and cannot reclaim back through your PAYE account?

Here’s a little refresher…

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Rising national living wage hits SME profits

Posted on: September 14th, 2017 by Sarah Curzon No Comments

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 NLW increase. (more…)

IR35 in the Public Sector – Changes coming April 2017

Posted on: March 27th, 2017 by Sarah Curzon No Comments

From April 2017 IR35 status in the public sector will no longer be determined by the contractor but instead determined by the client (engager).  If the public sector client decides that the contractor company is subject to IR35 they will deduct tax from any payment to the contractor and pay this over to HM Revenue & Customs as if they were employees. (more…)