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Insights from our payroll experts

Time to prepare for changes to the National Minimum and Living wage

Businesses need to prepare for new increases to the National Minimum and Living wage from 6 April this year, including changes to the age at which each rate applies. Minimum wage rates are reviewed annually and typically change at the…

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Employers named, shamed and fined for failing to pay National Minimum Wage

More 130 companies were fined at the end of 2020 for failing to pay more than 95,000 workers over £6.7 million under the National Minimum Wage (NMW) rules. The latest data covers some of the largest UK companies, whose payroll…

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The VAT Deferral New Payment Scheme

Any business that deferred VAT payments due between 20 March and 30 June 2020 as a result of the Coronavirus pandemic, must now consider how they will repay this outstanding tax. They can choose from the following options in order…

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COVID-19 Bounce Back Loan repayment period extended

The Government has announced changes to the Bounce Back Loan Scheme (BBLS) available to small businesses in the UK that will give companies longer to repay what they have borrowed. Around 1.4 million small and medium-sized businesses have taken out…

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Business insurance rates are on the rise

The impact of the pandemic has been felt in many different ways. Some of the effects have been quite immediate, but now many businesses are starting to see how the events of the last year are affecting their annual business…

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The advantages of electric vehicle salary sacrifice schemes

Businesses looking to reward and retain staff members may wish to consider offering an electric vehicle (EV) salary sacrifice scheme. Not only are many EVs better for the environment, but they could also offer businesses considerable savings. Businesses can use…

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Consultations on future of Companies House could see filing deadlines slashed

A set of consultations on the future of Companies House published in December 2020, include proposals for mandatory digital filing, requirements to tag accountants digitally with IXBRL and shortening filing deadlines to three months for public companies and six months…

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Voluntary and compulsory strike-off processes paused in response to national lockdown

Companies House will pause both the voluntary and compulsory strike-off processes for one month from 21 January until 21 February to support businesses affected by COVID-19, it has been announced. The extended measure comes in response to delays to the…

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Don’t forget to claim home working tax relief

Due to the ongoing restrictions of the Government’s Coronavirus response, millions of UK workers continue to work from home. Many may not be aware that they can claim tax relief for additional household costs if they are required to work…

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Large and medium-sized businesses need to be ready for IR35

Large and medium-sized businesses now just have a couple of months left to prepare for the changes to the off-payroll working rules (IR35). From 6 April 2021, in most cases, the engager (employer) will be responsible for deciding whether to…

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