Payroll Newsletters

Student Loans

Posted on: April 6th, 2016 by Amy Charge No Comments

From April 2016 there will be 2 student loan plan types which will be known as Plan 1 and Plan 2. Each plan will have a different threshold. We will need to deduct student loan repayments using the appropriate plan type.

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Zero Rate Employer Class 1 NICs for apprentices under the age of 25

Posted on: April 6th, 2016 by Amy Charge No Comments

If you employ an apprentice who is under the age of 25, from 6 April 2016 you may no longer have to pay employer Class 1 NICs on their earnings up to the new Apprentice Upper Secondary Threshold, which will be £43,000 a year for the tax year beginning 6 April 2016.

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End of contracted out NICs

Posted on: April 6th, 2016 by Amy Charge No Comments

Contracting out of the additional State Pension on a defined benefit (DB) base ended on 5 April 2016. Any employers who have benefited from paying a reduced rate of employers’ national insurance will pay the full 13.8% from 6 April 2016.

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Increase in Employment Allowance to £3,000

Posted on: April 6th, 2016 by Amy Charge No Comments

If you are an eligible employer, you can reduce the amount of employer NICs you pay by up to £2,000 per year through the Employment Allowance.

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Introduction of Living Wage – £7.20 for employees age 25 and over

Posted on: April 6th, 2016 by Amy Charge No Comments

On 1 April 2016 the National Living Wage will become law.
The Government is encouraging employers to prepare early for the changes and make sure they follow these four simple steps

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Payrolling benefits in kind and simplifying employee benefits and expenses

Posted on: April 6th, 2016 by Amy Charge No Comments

Following HMRC’s consultation over the summer, the regulations on the simplification of employee benefits and expenses have been published.

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The above information should not be used to make decisions in isolation without consulting a professional adviser.