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

Construction Industry Scheme (CIS)

CIS

If your business operates in the construction industry, it’s important to understand the Construction Industry Scheme (CIS). This scheme was introduced by HMRC to regulate the way payments are made to subcontractors, with the aim of ensuring that all workers are paid fairly and that taxes are collected efficiently. What is the Construction Industry Scheme … Read more

What is Pensions auto-enrolment?

auto-enrolment

Pensions auto-enrolment was introduced in the UK in 2012 as a government initiative to increase the number of people saving for retirement. As an employer, it’s important to understand how pensions auto-enrolment works and what your responsibilities are under the scheme. Who is eligible for auto-enrolment? Almost all UK workers aged between 22 and State … Read more

Why outsource your payroll?

outsourcing

Outsourcing your payroll to a professional payroll bureau like Payroll Junction can bring significant benefits to your business. In this blog post, we will explore the advantages of outsourcing payroll and why it is worth considering for your business. Cost Savings Outsourcing your payroll to a professional payroll bureau can help you save money. The … Read more