The Coronavirus Statutory Sick Pay Rebate Scheme closes today, 17th March. The scheme was originally closed in September 2021 but was re-opened due to the Omicron variant. The deadline to make a claim doesn’t close until next week, 24th March.
As we are getting closer to the new tax year it is important to be prepared for the changes coming in, which includes increases in NMW & NLW.
The National Living Wage (for employees aged 23 and over) will increase from £8.91/hr to £9.50/hr. The NMW for 21–22-year-olds increases to £9.18/hr, 18-20 year olds to £6.83, under 18s to £4.81 and apprentice hourly rate goes to £4.81.
| 23 and over | 21-22 | 18-20 | Under 18 | Apprentice | |
| April 2022 | £9.50 | £9.18 | £6.83 | £4.81 | £4.81 |
It is worth keeping in mind the increase comes in from the next pay reference period after the increase.
Example
The minimum wage increases on the 1st April.
An employee gets paid on the 10th of each month for work done between the 10th of the previous month to the 9th of the current month. The employee wouldn’t receive the new NMW until they are paid on the 10th May for earnings between 10th April – 9th May.
HMRC have released a new feature allowing companies to pay PAYE taxes using a QR code. By logging into your online account through the Government Gateway, on a desktop browser, you will be able to scan the QR code with your mobile and make the payment on your phone.
HMRC do make the point to watch out for scams. HMRC say they will never send a QR code to a customer, so please always be careful!
As we get closer to the end of the 2021-22 tax year you might be thinking about alternatives to processing your payroll in house. In house payroll processing is expensive and time consuming, yet there is an easy solution…outsourcing payroll services! At Alderley Payroll Services, we offer a fully managed payroll service, customisable to your business needs.
There are many benefits to using a specialist payroll bureau, with some of these listed below.
It is far more cost effective to outsource your payroll rather than employee an in-house team. You also don’t need to worry about other costs such as purchasing payroll software each tax year.
Using a payroll bureau to process your payroll allows you to carry on with the tasks that help you make money as a business! You no longer need to be distracted by the payroll process.
Payroll is an ever-changing field, from threshold changes year to year through to auto enrolment. The subject is ever evolving, and we will stay up to date, so you don’t have to!
Using a specialist bureau gives you access to advice and guidance! At Alderley Payroll Services we provide unlimited free guidance and advice.
An absolute must for a payroll bureau is accuracy! We have systems and checks in place to ensure we achieve the highest accuracy.
Using an outsourced bureau allows for a much greater sense of confidentiality. Understandably employees and employers are sensitive about their data. We take this with the utmost seriousness, strictly following GDPR regulations.
If you have any questions about outsourcing your payroll and would like a free quote please get in touch!
The Coronavirus Statutory Sick Pay Rebate Scheme is set to finish on the 17th March, with the deadline of 24th March to submit claims.
From 25th March SSP will revert back to normal, with employees qualifying for SSP from the fourth qualifying day and the employer unable to claim the cost of SSP back. For further information regarding SSP and qualifying criteria please follow the link.
As part of the Freeports model being rolled out, the government has announced Employer National Insurance contributions are to be included in the initiative.
If an employers business premises is within a Freeport tax site they will be able to apply a zero-rate of Employers NI on the earnings for new employees who spend 60% or more of their working time within the tax site. The zero rate can be applied to all employees hired from 6th April 22 for a maximum of 36 months. The zero rate can be applied on the new employees earnings up to £25k/pa. The new employees must themselves be based within the Freeport geographic area.
The relief is initially available from 6th April 22 – 5th April 2026, though the government is planning to extend for a further 5 years.
For more information and guidance on Freeports please visit the HMRC website.
HMRC has published its latest Agent Update. Even though this is aimed at agents, we think there is useful information for anyone who runs a business.
This months update looks at changes and developments to legislation and allowances relating to:
The post can be reached here!
HMRC has released their latest Employer Bulletin.
This is the final bulletin for the tax year and covers a lot of important ground for the new tax year. It is well worth a read to help stay up to date with things like the new NMW rates and other changes being implemented for 22/23.
HMRC have published their Q3 performance update and can be found here!
In the report HMRC assess their customer service performance in Q3 and set out plans for Q4 and going into the new tax year.
Guy Opperman, Conservative MP for Hexham and Parliamentary Under-Secretary has confirmed the Automatic Enrolment threshold for the 2022-23 tax year will be frozen at the same levels as 2021-22.
In a statement the MP has said,
An objective of this year’s annual review of the AE earnings trigger and qualifying earnings band (the AE thresholds) is the continued stability of the policy. We also want to ensure that our approach continues to encourage individuals to save towards their pensions whilst ensuring affordability. Our approach is designed so that everyone who is automatically enrolled continues to pay contributions on a meaningful proportion of their income. The review has concluded to freeze all AE thresholds for 2022/23 at 2021/22 levels. This is consistent with our ambitions to build a stronger, more inclusive savings culture. The Government is considering what more can be done to enable people to have greater financial security in retirement.
The full statement can be read here.
| Annual | 1 week | Fortnight | 4 weeks | 1 month | 1 quarter | Bi-annual | |
| Lower level of qualifying earnings | £6,240 | £120 | £240 | £480 | £520 | £1,560 | £3,120 |
| Earnings trigger for automatic enrolment | £10,000 | £192 | £384 | £768 | £833 | £2,499 | £4,998 |
| Upper level of qualifying earnings | £50,270 | £967 | £1,934 | £3,867 | £4,189 | £12,568 | £25,135 |