Uncategorized
P11D – what, when and how?
The deadline – 6 July – for reporting expenses and benefits to HM Revenue & Customs (HMRC) is rapidly approaching. It’s important for all employers to understand their responsibilities regarding this crucial tax form, so we’re here to guide you through the essentials. What is a Benefit in Kind? A benefit in kind (BIK) refers … Read more
Employment Law Updates for 2024
Are you aware of all the employment law changes that have come into force since April 2024? This blog tells you what you need to know to avoid costly mistakes and potential legal action from employees. Holiday Pay Calculation On 1st April the calculation method for holiday pay changed for part-year and irregular-hours workers. Holiday … Read more
Maternity Pay and Minimum Wage changes
Significant changes came into force this tax year regarding the National Minimum Wage and National Living Wage. In this blog we examine what this means for employees who were on maternity leave when the new rates came into force. In 2005, after a ruling at the European Court of Justice, Statutory Maternity Pay (SMP) regulations … Read more
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
Ensuring Payroll Compliance: The start of the tax year
It is always important that you are compliant with payroll legislation, but particularly so as an old tax year ends and a new one begins. Last month we brought you a blog all about what you need to do to finish the old tax year, and now this month we identify the actions you need … Read more
Ensuring Payroll Compliance: The end of the tax year
It is always important that you are compliant with payroll legislation, but particularly so as an old tax year ends and a new one begins. This is because most legislation changes are timed to take place at the start of the new tax year, which means a lot of work for payroll teams between now … 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
Payroll Trick or Treat?
Think you know payroll and pensions? Test your knowledge with our fiendish Halloween quiz! Trick or Treat: Employers only have to keep payroll records for the current tax year. TRICK! Employers must keep records of payment and deductions for a minimum of three years from the end of the tax year they relate to. … Read more