Copyright © 2024 Thesaurus Software Ltd T/A Bright Software Group.
3 Shortlands, Hammersmith, London, W6 8DA
[email protected] 0345 9390019May 2014
30
HMRC have improved their Business Tax Dashboard following feedback from their customers and have attempted to make it more user friendly.
There have been improvements made to the “Current Position” and the help icons.
Employers will be able to check how the amount they owe is calculated and when the HMRC updates the “Amount Due” on the screen.
It will show the payment date and how the payments are allocated.
Information is also given on the Employment Allowance.
Oct 2013
11
The Mayor of London, Boris Johnson, has proposed that season tickets for commuters be considered as a salary sacrifice to give tax relief to those who have to travel to work. He has suggested that they be treated the same as the current Child Care Voucher or Cycle to Work Scheme. The employer would buy the season ticket and deduct the cost from the employee’s pay before tax is deducted. Therefore the employee would have the benefit of the ticket but pay tax on a lesser amount.
At the moment this is only a proposal and has been forwarded to the Chancellor for consultation.
Oct 2013
7
Universal Credit is a new single monthly payment for people on low incomes or out of work. It aims to ensure that people are better off working that claiming benefits.
This means that they would not lose all their benefits if they take up employment and are receiving a low income and their Universal Credit would only reduce gradually as their income increases.
WHAT WILL THIS MEAN FOR EMPLOYERS
Employers will benefit from this in a number of ways.
It will be easier to fill jobs either short time or with irregular hours.
It will mean that more flexible working hours can be put in place for existing employees without needing to recruit new employees and the expense that would incur.
Employers will be able to access people registered on Universal Jobmatch and thereby fill vacancies more quickly.
Universal Credit Payments are linked to the amount an employed Universal Credit claimant has earned. Since RTI (Real Time Information) was introduced HMRC already has the required information on each employee.
Universal Credit is being rolled out gradually and a national roll out will occur from October 2013.
Between April 2013 and 2017 Universal Credit will replace Income based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit and Housing Benefit. By 2017 it will be paid to everyone who has the right to receive it.
Aug 2013
19
It has been confirmed that the new NMW rates which take effect from 1st October 2013 will be as follows:
Jul 2013
7
The Government has made changes to encourage people to save for retirement.
People in the UK today can expect to live longer than ever before.
The number of retired people will rise by more than a third by 2050 but there will be relatively fewer working people.
Pension reform aims to help people to save for their retirement so they don’t have to rely only on the State Pension.
The Pensions Act 2008 introduced new duties on employers to provide access to a workplace pension scheme for most workers.
The new duties are being introduced gradually and employers have a staging date based on how many workers are on their payroll. By 2018 all employers must have a scheme in place. You need to know when the duties apply to your organisation and which workers you’ll have to enrol.
The date when the law is 'switched on' for your business is known as your 'staging date'.
Find out your 'staging date' by clicking here.
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Copyright © 2024 Thesaurus Software Ltd T/A Bright Software Group.
3 Shortlands, Hammersmith, London, W6 8DA
[email protected] 0345 9390019