Changes To National Insurance Rates from 6th January 2024

It was announced in the Chancellor’s Autumn Statement in November 2023 that National Insurance rates were to be cut for millions of workers. The changes to National Insurance Rates from 6th January 2024 are as follows: Class 1 National Insurance contributions will be cut by 2%, reducing from 12% to 10%. There will be further […] Read more »

An update on Fit Notes

The government announced an update to the Fit Note or Med 3 form which was published on 6 October 2023. The fit note should allow the employer and employee to discuss the employee’s health condition and consider ways to help them stay in, or return to, work on a phased or permanent basis. Previous updates […] Read more »

Are you ready to submit your P11Ds?

If you’re an employer and provide expenses or benefits to employees, you must usually report them to HMRC so that tax and NICs are accounted for, unless they are subject to an exemption. It’s important you understand which exemptions apply and what needs reporting. We would recommend employers review the expenses and benefits they provide […] Read more »

Implications of an extra Bank Holiday

Monday 8th May is an additional bank holiday this year due to the King’s coronation. Employers may have already had to manage the introduction of additional bank holidays last year due to the Queen’s platinum jubilee and another to mourn her death. You may need to review your contractual position on bank holidays to assess […] Read more »

Reversal of recent mini-budget changes

It’s in, it’s out…it’s on, it’s off! Trying to keep up with the latest government plans are making our heads spin at the moment. The newly appointed chancellor Jeremy Hunt has reversed almost all of the recent mini-budget commitments made by previous chancellor Kwasi Kwarteng last month, in a statement made at the Treasury today […] Read more »

Change in employee National Insurance threshold from July 2022

A surprise announcement in the Chancellor’s Spring statement means a change in employee National Insurance Thresholds from July 2022. There is an increase to both the primary threshold and lower profits limit which takes affect 6th July 2022. It is unusual to revise thresholds part way through a tax year, and may catch some employers […] Read more »

Tax Year 2022-23: New Rates, Allowances and Thresholds

The new tax year 2022-23 New Rates, allowances and thresholds you need for your payrolls from April 2022 are as follows: All tax thresholds and allowances have been frozen so remain the same as last tax year (except Scotland). Therefore the standard tax code remains 1257L. National Insurance Thresholds have changed. The lower earnings threshold […] Read more »

Statutory Sick Pay rebate scheme reinstated

The Chancellor has reinstated the statutory sick pay (SSP) rebate scheme for small and medium-sized businesses. The old rebate scheme closed on 30th September 2021, but due to the current surge in Covid-19 cases, the new scheme will apply where the employee has taken sick leave due to Covid-related reasons from 21st December 2021. No […] Read more »

A new Health and Social Care Levy for 2022

On 7th September 2021, prime minister Boris Johnson, announced that a new Health and Social Care Levy will be implemented from tax year 2022/23, therefore will start in April 2022. The new levy will be based on National Insurance contributions and for all working age employees, self-employed and employers, NIC rates will be increased by […] Read more »

The New COVID-19 Job Support Scheme

With the end of the Coronavirus Job Retention Scheme on 31st October, the New COVID-19 Job Support Scheme starts on 1st November 2020 and will run for 6 months until April 2021 for SMEs (less than 250 employees). The Job Support Scheme is designed to protect viable jobs in businesses who are facing lower demand […] Read more »