Payroll Perfection Ltd

08/04/2024

We are delighted to say we have found our new team member. Tracy Chivers - welcome aboard !
Tracy brings decades of finance experience and we are all very happy that she is joining us. 🙌🙌🙏

26/03/2024

We are now looking for a person to join our team for 2 days a week.
Payroll is fast paced and we are a hard working friendly team.
If you think you might have the skill set to be our new team member- please get in touch with your CV.

23/09/2022

The Government have announced in-year reductions to the National Insurance rates and the cancellation of the Health & Social Care Levy.

The key changes are:

NIC Rates will be cut by 1.25% for employers and employees, which is a reversal on the uplift that was introduced in April 2022 and will come into effect from 6th November 2022

The new Health & Social Care Levy that was due to come into effect in April 2023 will also now not go ahead

09/09/2022

05/07/2022

National Insurance, which was pushed up by higher rates in April will change again when the threshold increases.

From 6th July the threshold for paying National Insurance increases to £12,570 and will now be the same as the income tax threshold (personal allowance).

05/07/2022

We had a wonderful time exhibiting at Accountex 2022 in May. It was wonderful to meet everyone face to face. We are now busy onboarding lots of clients!
We offer a free Data Cleanse whenever we onboard a payroll.
We are picking up lots of payroll data discrepancies including:

Directors not marked as Directors in the payroll.
Employers Allowance claimed in Error.
Employers Allowance not claimed.
Pension scheme not set up.
Eligible Employees not enrolled into a Pension Scheme.

Could your payrolls benefit from a Data Cleanse ?

05/04/2022

The controversial 1.25% points increase in NI begins this new financial year. HMRC are advising employers to detail the following on employee payslips:

1.25% uplift in NICS funds NHS, Health & Social Care

However, this is not obligatory and many employers are feeling uncomfortable about the political implications of putting this on payslips.

We at Payroll Perfection Ltd firmly believe the choice is with the employer and we are asking all our employers if they wish this message to appear.

23/03/2022

Finally, in these difficult days there is a bit of good news from the Chancellor, Rishi Sunak today regarding NI.
From July 2022, the Primary NI Threshold will align with the income tax personal allowance.
This will mean:
The first £12,570 an individual earns will be completely Tax and NI free.
Almost 30 million working people are reported to benefit from this change.

09/03/2022

We have recently received an employer enquiry whereby an employee had carried over some holiday days from the previous holiday year - due to COVID.
Employees are able to carry over up to 4 weeks untaken leave over the next two years.
The employee had received a pay increase in the last few months.
But the question from our employer was should the holiday pay carried over - be paid at the old rate or the new rate ?

The answer from ACAS is that it should be paid at the new rate.

As the National Minimum Wage increases from 1st April 2022 this is something to bear in mind for employers.

03/03/2022

HMRC have announced that the COVID SSP Reclaim scheme comes to a close this month. The final date for claims is up to the 17th March 2022.
Claims must be submitted to HMRC before the 24th March 2022.

Something to bear in mind if your payroll is usually run at the end of the month.

I might be a cynic but HMRC could have chosen the end of the financial year instead - the dates above could catch a lot of employers out.

Make sure your ducks are in a row before the 24th March 2022 !

01/02/2022

Like many people, I rate Martin Lewis highly for financial advice.

Yesterday he tweeted about the forthcoming 1.25% increase in NI which will begin in April 2022.

Martin came up with a very good point which is this:

HMRC are describing the increase as 1.25% which it is not.
The current rate is 12% and this is increasing to 13.25% which is actually an increase of over 10% in NI costs for both the average tax payer.

This increase will also affect Employers NI rising from 13.8% to 15.05% an increase of close to 10%.

National Insurance: How much you pay - GOV.UK (www.gov.uk)

GOV.UK - The place to find government services and information - simpler, clearer, faster.

14/01/2022

Employers Allowance can be claimed by the majority of Employers. Have you claimed yours ?

Employment Allowance allows eligible employers to reduce their annual National Insurance liability by up to £4,000.

You can claim Employment Allowance if you’re a business or charity and your employers’ Class 1 National Insurance liabilities were less than £100,000 in the previous tax year.

You cannot claim if both of the following apply:

1. You’re a company with only one employee paid above the Class
1 National Insurance secondary threshold

2. The employee is also a director of the company

You can claim Employment Allowance for the previous 4 tax years dating back to the 2017 to 2018 tax year.

We can claim this for you, free of charge if we look after your payroll.

Do get in touch, if we can assist you making a claim.