Moore Thompson :: Payroll and HR Bulletin

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Welcome to the Moore Thompson Payroll and HR Bulletin

Welcome to Payroll & HR, the quarterly publication from Moore Thompson Chartered Accountants.

In this edition: Does your business operate a salary sacrifice scheme? New changes make reporting compulsory for almost all job perks.

Plus: What happens if I am struggling to cope with payroll and auto-enrolment? ● Your personalised Payroll diary ● Tax on payment in lieu of notice ● And more from our best blogs.

Enjoy!

Keep track of your legal obligations by visiting www.moorethompson.co.uk. For more information on any of the articles discussed in Payroll, contact one of our payroll & HR experts here.

We operate a responsible email policy at Moore Thompson, so if you do not wish to receive further copies of Payroll, please click here to unsubscribe.

But first… We want to introduce you to our new executive service, MT HR!

MT HR was created in response to a problem many businesses have. How do you operate an effective HR department while keeping costs low?

The answer is MT HR.

Does your business operate a salary sacrifice scheme?

New rules will impact employers giving away benefits for cash
Businesses told to update their payroll urgently

New tax rules which came into effect this April mean businesses are required to declare almost all types of benefits in kind, including optional remuneration arrangements (OPRA).

What happens if I am struggling to cope with payroll and auto-enrolment?

Between paying employees, filing HMRC reports and keeping on top of cash flow, payroll is often the most demanding responsibility an employer can have.

If you’re struggling to keep on top of it all, here are some helpful tips which should save you time, stress and money.

Termination payments taxable under new HMRC guidance

HM Revenue & Customs (HMRC) has updated its guidance on termination payments with important new changes for employers.

The changes, which came into effect from 6 April 2018, affects the way non-contractual payments in lieu of notice (PILONs) are taxed.

Your personalised Payroll diary (Jul - Sep)

5 July 2018
Deadline for PAYE Settlement Agreement (PSA) for 2017-18.

6 July 2018
Deadline for filing forms P11 D, P11 D(b) for previous tax year and giving copies to employees.

Tax on payment in lieu of notice

As of 6 April 2018, any payment relating to notice period is now taxable, whether it is in employment contract or not. This now means the employer will have to pay income tax and Class 1 National Insurance Contributions (NICs) on the amount of any termination payment that represents pay in lieu of notice (PILON).

New protection for the gig economy

The Government is planning to give millions of workers in the so-called ‘gig economy’ sick pay and holiday pay from day one and will introduce the right for all workers to request a more stable contract.

More of our blogs

1. Enquiry into BBC forcing use of PSCs
The Digital, Culture, Media and Sport Select Committee has been hearing evidence that hundreds of BBC presenters were forced to form companies so they could be treated as freelancers, which has left many of them facing large tax demands.
Read more here…

2. Minimum wage cheats named and shamed
Earlier this month the Government published a list of 149 employers who failed to pay the basic rate of the National Minimum Wage (NMW).
Read more here…

3. RTI ‘tweak’
Any business that employs workers could soon see a further ‘tweak’ to the operation of Pay As You Earn (PAYE) codes through the Real Time Information (RTI) system via dynamic coding.
Read more here…