Don’t let your payroll catch you out!

2015 is a big year for changes to payroll legislation. Major updates into how payroll is processed include:

Automatic Enrollment of Workplace Pensions – Employers who employ 30 employees or less will start ‘Staging’ from 1st June 2015 all the way through until 2017/18.

RTI Penalties – From 6th March 2015, businesses employing 30 or fewer employees will start to be fined £100 or more for late or non-filing of PAYE information after each pay run.

Continuation of Employers NIC Allowance – Employers will be able to claim back up to £2,000 off their NIC bill during 2015/16. This is already in place but will be extended to also cover off support and care workers.

Shared Parental Leave – From 6th April 2015, parents can choose to share parental leave and pay.

Shared PAYE Personal Allowance – Married couples and civil partnerships can transfer up to 10% of their personal allowance to their partner. (There will be two new tax code suffixes ‘M’ and ‘N’).

Abolition of Employers NIC for employees – Introduction of new NI categories for employees who are under 21 years of age where employer will pay no employer’s NIC, encouraging employers to employ younger people.

Removal of 26wk rule for Statutory Adoption Pay – Employees no longer have to work for an employer for 26 weeks to receive adoption pay.

Payroll legislation changes on an annual basis and it is vital for you to keep up to date with it if you run your own payroll. If you’re struggling to adhere to the above changes or are worried about future changes, you can outsource your payroll to us and take away all the stress and time needed to stay up to date!

For more information on how we can help call today on 01782 577870!

(Legislation Changes Source: http://uk.sageone.com/2015/01/26/payroll-legislation-changes/)