We are now in the new tax year, 2016/2017. The Employment Allowance has risen to £3,000, this is a great change for small employers, with this changing it means that businesses will be able to employ four people full time on the National Living Wage and pay no National Insurance at all.
The National Living Wage came in on the 1st April 2016, this applies to employees who are aged 25 and over. This is a huge leap for employees a £0.50 25+ year old working a 37.5-hour week @ £7.20 per hour (gross figures): Annual pay: – £14,040.00 Monthly pay: – £1,170.00 Weekly pay: – £270.00 At present the National Minimum…read more →
Student Loan Deductions have changed slightly, there are now two types of plan’s when deducting the SL. This should be always set up correclty by the employer/payroll provider, however, the P45 format has not been amended for 2016-17 and will still only contain an indicator to say that the employee has a loan in their previous employment. It will not…read more →
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23 North Park Road
Harrogate
North Yorkshire
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