Guide to the Tax Year 2024-25

In this blog, we give you a run-down of all the changes you need to know about for preparing payroll in 2024-25. Tax Rates & Allowances There has been no change to personal allowances or tax bands in England and Wales for 2024-25. In Scotland all bands have altered slightly with starter rate (19%) tax … Read more

Minimum Wage changes for 2024/2025

The new tax year is fast approaching, and there are significant changes to the National Minimum Wage and National Living Wage which come into force on 1st April 2024. Here at Payroll Junction we have you covered with a summary of all the important information you need to know! National Living Wage Having previously only … Read more

Processing Payroll at Christmas

Christmas is a busy time of year for everyone, but for those processing payroll it is a particularly hectic time, with lots of potential changes to be aware of. Payroll Junction is here to help with our guide to everything you need to know about processing payroll at Christmas.   How Christmas shutdown periods affect … Read more

Managing your tax code

tax code

Tax codes are used by HMRC to tell an employer how much income tax to withhold through the “Pay as you earn” (PAYE) system. A person’s tax code can change from time to time, based on their personal circumstances. If it does, HMRC will inform the taxpayers of their new tax code by post or … Read more

Deadline for topping up National Insurance contributions extended again

national insurance

With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement through National Insurance should not be overlooked. The full rate of new State Pension increased to £203.85 per week (£10,600 pa) from 6 April 2023; a 10.1% increase over the 2022/23 rate, as a result of the “triple … Read more

Guide to the Tax Year 2023-24

2023

In this blog, we give you a run-down of all the changes you need to know about for preparing payroll in 2023-24. Tax Rates & Allowances There has been no change to UK-wide personal allowances or basic rate tax for 2023-24. In England and Wales there have however been changes to the higher (40%) and … Read more