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The changes: The employers’ National Insurance rate is going up from 13.8% to 15%, and the annual salary threshold reduces from £9,100 to £5,000. The implications: Directors pay pre NI deductions reduces. Payroll needs to be set and monthly returns sent to HMRC if annual salary breaches the £5000 threshold. Threshold is currently £6396. (The … Continue reading
Payroll-related payments to HMRC must be made by 22nd of the month following the month in which the return is processed. Payments can be made online via HMRC’s website or through your bank. When the latter happens, you may need to quote a reference that lets HMRC know who or what the payment is from. … Continue reading
Phoenix Debola 