When it comes to making employees redundant, it is not just a difficult decision for employers but also a potentially distressing situation for all parties involved. Mistakes in the redundancy process can lead to legal claims and tribunal cases. That is why seeking professional advice is crucial. Termination of Contract Terminating an employee’s contract involves various aspects, including the final payment. Apart from the regular earnings (salary, accrued holiday pay, accrued bonuses, etc.) up to the last working day, the termination award consists of additional payments made specifically upon the termination of employment. Such payments may include statutory redundancy pay, […]
In a move to enhance tax compliance and tackle tax evasion, HM Revenue and Customs (HMRC) is set to implement new regulations on data collection. These changes, effective from April 2025, will have a significant impact on owner managed businesses and individual employees. In this blog post, we will delve into the details of the HMRC data collection requirements and explore the implications for businesses and employees. Understanding the New Rules Under the new regulations, owner managed business directors will be subject to increased scrutiny regarding dividend payments. Employers will also be obligated to report individual employees’ working hours. These […]
When working, incurring expenses is sometimes necessary. Depending on the job, these costs can be for various different things such as travel and lodging or membership fees and subscriptions. Typically, when an employee has incurred the cost, they will file an expense claim to have it reimbursed by their employer. Sometimes companies also offer payments at a set rate for certain expenses. It’s important to understand your employer’s system and file claims correctly if you need to claim expenses for anything. That way, you can be sure you’ll get reimbursed promptly and without any issues. Reimbursed expenses As an employer, […]
With the recent surge in cost of living prices, it’s easy to miss other important news that you need to take notice of! So, in today’s blog, we will discuss the National Insurance changes and what that could mean for you. What are the changes? It has been announced that from April 6th employers, employees and the self-employed will pay an increase of 1.25p for National Insurance. But why the change? Why the increase? The increase of tax will go towards the NHS and funding health and social care in the UK. The Government stated that the extra funding will […]
IR35 is tax legislation designed to tackle tax avoidance by workers, and the firms hiring them that has been in place for 20 years. However, the rules for the public sector were tightened in 2017 and for the private sector in April 2021. That’s why it has been a hot topic for many business owners and off-payroll workers in recent months. Why does IR35 exist? IR35 was introduced to tackle the issue of workers carrying out regular work in what is known as ‘deemed employment’. Deemed employment is where businesses engage workers on a self-employed basis (usually through an intermediary, […]
Update On Part-time Furlough, Changes To The Coronavirus Job Retention Scheme And The Second Self-employed Income Support Scheme. On the 28th of May, the Chancellor Rishi Sunak announced plans to end the eight-month coronavirus job retention scheme (CJRS) and self-employed income support scheme (SEISS) by gradually withdrawing taxpayers’ contributions from August. Whilst outlining his plans Mr Sunak said that he intends to reduce contributions to the furlough scheme as it “cannot continue indefinitely”. This means that in the final phase of the eight-month scheme employers will be asked to “contribute, alongside the taxpayer, towards the wages of their staff”. CJRS […]
The Government has accepted recommendations from The Low Pay Commission (LPC) to increase minimum wage for under 25 year olds and apprentices from 1st October 2016.
On 6th April 2016 there were some major changes in employment allowance announced by HM Revenue & Customs which may affect your business.
A report from the Pensions Regulator on this month’s compliance reports that more than 100,000 employers have auto-enrolled staff into a workplace pension.
April 1st is fast approaching and there are certain tasks which you can be doing to ensure you are prepared in time for the National Minimum Wage Increase