Now that you are reporting PAYE information to HMRC in real time, there is no longer a need for a P35 or P14s anymore. Instead, the usual questions and declaration that were part of the P35, will now be part of your final Full Payment Submission (FPS) or Employer Payment Summary (EPS) if applicable. For […] Read more »
Auto enrolment: Start Planning Now
We can’t stress enough how important it is that you start planning for Auto enrolment now. Your staging date may seem a long way off, if you know it already, but if you leave it too late to think about choosing the right pension for you and your employees, your options will be extremely limited. […] Read more »
Christmas Benefits
With the festive period upon us, some employers may want to provide their employees with a gift or bonus, but how will this affect your payroll? CHRISTMAS BONUSES All cash bonuses paid at Christmas count as earnings and must go through payroll in the normal way. Non-cash vouchers, and benefits with a money’s worth are […] Read more »
Don’t pay HMRC too early!
Since Real Time Information (RTI) started, some employers have been experiencing difficulties in reconciling the difference between the tax they think is due, and the tax HMRC think is due according to the RTI submissions. As I mentioned in my last blog, it is vital for employers to use their correct PAYE Accounts reference for […] Read more »
RTI: The importance of reporting Hours Worked
From October 2013, the new Universal Credits system will start to be introduced around the UK. This new benefits system will replace income support, housing benefit, job seekers allowance and employment and support allowance. Then, from April 2014, workers who are currently claiming tax credits will claim universal credits instead. It is therefore crucial that […] Read more »
Paying HMRC correctly
Since April 2013 and the introduction of RTI (Real Time Information), HMRC know exactly what each employer owes them every month and are quick to chase for late payments or apparent underpayments. We have seen many cases recently of our clients being sent demands for underpayments when in fact they have paid the correct amounts, […] Read more »
RTI…Is it working so far?
Since RTI started, we are told that the majority of employers have come on board and have been submitting successfully and all is working well. However, for many employers this has not been the case, and although they have reported RTI correctly, they have been inundated with apparent underpayments due to discrepancies between the employers […] Read more »
HMRC confirms number of RTI non-filers
Hundreds of thousands of companies have so far failed to report Real Time Information (RTI) to HMRC. HMRC say that 300,000 schemes have not made the switch to RTI as at 5th June. As a result those companies have been sent letters informing them of their legal requirement to have filed PAYE in real time […] Read more »
Wrong Payroll Dates for RTI?
Now that RTI is in it’s third month since going live, the reporting of PAYE in real time has highlighted to HMRC that some employers are not operating PAYE correctly. Employers must ensure that PAYE is calculated and reported according to their actual payment date: NOT the date the payroll is run and NOT the […] Read more »
Budget News
Personal Allowances The latest budget has confirmed that the basic personal allowance will be increased from the current £8,105 to £9,440 for 2013/14. The Coalition Government plan to ultimately raise the allowance to £10,000 from 2014/15. The additional tax rate of 50% is reduced to 45% for 2013/14 for taxable income over £150,000. National Insurance […] Read more »
Tax Year End Procedure 2013
The end of another tax year is approaching. This is a busy time for payrollers and there are numerous payment and reporting deadlines to be met if penalties are to be avoided. It is vital that employers and their agents understand what needs to be done and when, and that they have all the required […] Read more »
New Starters and RTI
With RTI imminent, the way employers report new starter information to HMRC will change. You will no longer submit P45s or P46s as all starter information will be reported on the first Full Payment Submission (FPS) for those employees. Previously, a new starter would provide their new employer with either a P45 or a P46 […] Read more »
Child Benefit Change for High Earners
From 7th January 2013, any taxpayer earning more than £50,000 a year who receives Child Benefit, or whose partner receives Child Benefit, will be liable to incur a new income tax charge. Anyone who has to pay the charge will need to pay an amount equivalent to some or all of the Child Benefit that […] Read more »
Payroll Giving
Payroll Giving was launched back in 1987 but only 6% of UK employers currently offer the scheme to their employees, so there is still massive scope to give charities access to huge income they are missing out on. Many employees would like to donate to charity this way but more businesses need to offer payroll […] Read more »
Outsourced Payrolls for Brighton Accountants
We are delighted to announce that we have teamed up with Brighton Accountants Feist Hedgethorne who have made the decision to outsource their entire client payroll service to Sussex Payroll Services. We had worked several years ago with Jamie Young, now one of the directors at Feist, who knew we had set up our own […] Read more »
RTI Is Coming… Are You Ready For It?
The move to reporting PAYE information online to HMRC in REAL TIME is mandatory. Most employers will have to move to operating RTI (Real Time Information) from April 2013. In October 2012, HMRC will write to all employers telling them what they need to do to get ready for RTI, and in February 2013 they […] Read more »
The National Minimum Wage October 2012
The national minimum wage (NMW) is the set minimum hourly rate that UK employers must pay their workers. There are three aged based rates and an apprentice rate which are usually updated in October each year. Almost all workers who work in the UK are entitled to the NMW, except self-employed people and children who […] Read more »
10 Great Reason For Outsourcing Your Payroll
COST Big businesses can afford to maintain big payroll departments. For small businesses however, an in-house payroll service is a money burner. If you calculate the hours your employees spend on payroll-related activities, plus payroll software costs, training costs, printers, printing and distributing payslips, creating tax documents etc, you could be surprised by the result […] Read more »
Real Time Information: An Introduction
By now you would surely have heard about Real Time Information (RTI), the completely new system of reporting PAYE to HMRC. Starting from April 2013, under RTI, employers will submit information about PAYE payments to HMRC online throughout the year, rather than at the end of the year. Every time you process your payroll, your […] Read more »
Paye Late Filing Penalties
HMRC have addressed the concerns about the delay in informing employers of late PAYE end of year returns and subsequent penalties. In previous years, employers who did not file their annual P35 return by 19 May incurred penalties of £100 per 50 or fewer employees for each month that their return was late. In some […] Read more »