This document summarizes a policy in the UK to abolish employers' national insurance contributions for employees under age 21. It will take effect April 6, 2015. Employers will no longer have to pay secondary national insurance contributions on earnings up to the upper earnings limit for employees under 21. The goal is to encourage youth employment. It is estimated to cost £465 million in 2015-2016 but help nearly 1.5 million young employees and support the economy. Employers will have some one-time costs to update payroll systems but benefit from reduced fiscal burdens.
Take a look at common mistakes made with day to day payroll processing. Learn how to avoid these errors, which may prove costly to your business or result in non-compliance.
The following blog focuses on a number of areas in relation to the 2014-15 budget that will be of interest to human resources and payroll professionals.
How does George Osborne's latest Budget affect you?
Gemini have produced this handy summary to outline the main changes discussed in the House of Commons on 20th March 2013.
ProAktive's approach to Auto Enrolment (pensions).ProAktivePeople
Here's a copy of our presentation from the free breakfast briefing we held in January 2014. Auto Enrolment is mandatory legislation to all companies in the UK, starting from October 2012. If you have questions that need answering or would like us to help you with this process, please get in touch. 01302 341 344.
Vermont Strategic Plan v1.3 2018-2023 (FY2019-FY2023)
Vermont Budget $5.9 Billion, 5,900,000,000 or Round Up $6 Billion + Plan. www.gilbertforsenate.us or www.greenmountainrepublicans.org or www.esgjrconsultinginc.com
Payroll legislation is constantly changing and keeping fully up to date can be challenging. Our payroll senior manager, Eve Iunco, will present a comprehensive update and will guide you through all the recent legislative changes and those that will be coming up in the near future. She will also draw your attention to common problems and pitfalls that clients regularly need help and advice with.
This year, we will also be including a presentation from our Head of Cyber Security, Richard Wilding, who will provide an update on the latest ways to protect your business from cybercrime. This concise briefing will update you on the latest cyber scam trends and show you how you can act to protect your payroll and business data.
Topics covered will include:
Payroll update
•Legislation changes - recent and to come
•New student loan - postgraduate
•Payslip changes
•Right to work - potential risks
•General update
Cyber security briefing
•Current risks and threats
•ID theft
•CV/Employee history fraud
•GDPR
Eine Software zur Fuhrpark-Verwaltung macht durchaus Sinn. Nur, wieso? Erfahren Sie hier 14 Vorteile einer Software.
Die Fuhrpark-Verwaltung kann heute sehr chaotisch sein. Sie kostet viel Zeit, Mühe und ist nicht das Kerngeschäft Ihres Unternehmens. Eine Software zur Fuhrpark-Verwaltung bündelt alle Informationen und Daten über den Fuhrpark in einem System. Sie kontrollieren und steuern Ihren Fuhrpark somit durch wenige Klicks. Erfahren Sie mehr über 14 Vorteile einer Software für selbst verwaltete Flotten mit oder ohne Full-Service Leasing.
Wenn Sie mehr darüber lesen möchten, finden Sie hier unseren ausführlichen Blogbeitrag >>http://blog.avrios.com/warum-eine-software-zur-fuhrpark-verwaltung-sinnvoll-ist
Take a look at common mistakes made with day to day payroll processing. Learn how to avoid these errors, which may prove costly to your business or result in non-compliance.
The following blog focuses on a number of areas in relation to the 2014-15 budget that will be of interest to human resources and payroll professionals.
How does George Osborne's latest Budget affect you?
Gemini have produced this handy summary to outline the main changes discussed in the House of Commons on 20th March 2013.
ProAktive's approach to Auto Enrolment (pensions).ProAktivePeople
Here's a copy of our presentation from the free breakfast briefing we held in January 2014. Auto Enrolment is mandatory legislation to all companies in the UK, starting from October 2012. If you have questions that need answering or would like us to help you with this process, please get in touch. 01302 341 344.
Vermont Strategic Plan v1.3 2018-2023 (FY2019-FY2023)
Vermont Budget $5.9 Billion, 5,900,000,000 or Round Up $6 Billion + Plan. www.gilbertforsenate.us or www.greenmountainrepublicans.org or www.esgjrconsultinginc.com
Payroll legislation is constantly changing and keeping fully up to date can be challenging. Our payroll senior manager, Eve Iunco, will present a comprehensive update and will guide you through all the recent legislative changes and those that will be coming up in the near future. She will also draw your attention to common problems and pitfalls that clients regularly need help and advice with.
This year, we will also be including a presentation from our Head of Cyber Security, Richard Wilding, who will provide an update on the latest ways to protect your business from cybercrime. This concise briefing will update you on the latest cyber scam trends and show you how you can act to protect your payroll and business data.
Topics covered will include:
Payroll update
•Legislation changes - recent and to come
•New student loan - postgraduate
•Payslip changes
•Right to work - potential risks
•General update
Cyber security briefing
•Current risks and threats
•ID theft
•CV/Employee history fraud
•GDPR
Eine Software zur Fuhrpark-Verwaltung macht durchaus Sinn. Nur, wieso? Erfahren Sie hier 14 Vorteile einer Software.
Die Fuhrpark-Verwaltung kann heute sehr chaotisch sein. Sie kostet viel Zeit, Mühe und ist nicht das Kerngeschäft Ihres Unternehmens. Eine Software zur Fuhrpark-Verwaltung bündelt alle Informationen und Daten über den Fuhrpark in einem System. Sie kontrollieren und steuern Ihren Fuhrpark somit durch wenige Klicks. Erfahren Sie mehr über 14 Vorteile einer Software für selbst verwaltete Flotten mit oder ohne Full-Service Leasing.
Wenn Sie mehr darüber lesen möchten, finden Sie hier unseren ausführlichen Blogbeitrag >>http://blog.avrios.com/warum-eine-software-zur-fuhrpark-verwaltung-sinnvoll-ist
Just Released, please find our new Corporate Brochure - Contact our Coalisland or Cookstown Office to discuss any area of Accounts/Audit, Tax Planning or Business Consultancy
The Chancellor gave a combined Spending Review and Autumn Statement on 25 November 2015. He announced a number of measures that will affect businesses, individuals and the UK as a whole.
We have produced a 12 page Autumn Statement report which includes details of these, including sections on business initiatives, pensions, changes to personal allowances and more.
Reducing debt and borrowing is essential to controlling inflation, keeping mortgage rates affordable and funding public services sustainably. After accounting for decisions at the Autumn Statement, borrowing is forecast to be lower this year, next year and on average over the forecast period compared to the OBR’s March forecast. Underlying debt is also lower as a percentage of GDP, by an average of 2.1 percentage points across the forecast.
May recap of the major benefits changes and Coronavirus (COVID-19)Policy in Practice
As new measures to control Coronavirus (COVID-19) are introduced Policy in Practice's Head of Policy, Zoe Charlesworth, summarises the major changes to the welfare system.
As part of the support we've been providing we’ve answered hundreds of questions from people worried about the impact of Coronavirus on their income.
In addition, Megan Mclean shares some of the common questions we’ve received on our Coronavirus support page from people who are worried about their income.
Special guest Victoria Todd, Low Incomes Tax Reform Group, updates us on tax credits.
Finally, Peter Carter briefly walks through software tools that help our clients to give the best advice possible to their customers.
Review the slides to learn:
- What policy measures are in place to protect people
- The impact of COVID-19 welfare measures
- What the main concerns of people are
- How organisations are responding
Register now for our next webinar 'Coronavirus: Stories from the frontline' taking place on May 20 at 10:30 here: https://register.gotowebinar.com/register/7790971575243794701
If the date of this webinar has passed you can view our webinars on demand here http://policyinpractice.co.uk/events/
Canada’s small- and medium-size enterprises
(SMEs) are collectively the largest employer in
Canada, employing about 55 per cent of
Canadians (based on Statistics Canada’s Survey
of Employment, Payrolls and Hours 2008).
When you take into account the fact that they
contribute 1.4 times the premiums their
employees do, this makes them the single
largest employer-stakeholder group in the EI
system today. SMEs employ Canadians in every
province and in every sector of the economy,
from the retail and service sectors to
manufacturing and primary industries. This
broad range of industries and employee
requirements make SME owners an excellent
judge of the efficacy of the EI system.
EI is becoming a more and more important
issue for SMEs. In fact, EI is one of the top
priorities for CFIB members across the nation.
This was highlighted in a survey conducted in
the first half of 2009, which found that 48 per
cent of CFIB members listed EI reform as a
priority for their business, behind only the
total tax burden and regulations and paper
burden, both of which are also directly related
to the EI system.
1. Abolition of employers National Insurance
contributions for the under 21s
Who is likely to be affected?
Employers with employees under the age of 21.
General description of the measure
From 6 April 2015 every employer with employees under the age of 21 will no longer be
required to pay Class 1 secondary National Insurance contributions (NICs) on earnings up to
the upper earning limit (UEL), for those employees.
Policy objective
The removal of the requirement for employers to pay Class 1 secondary NICs aims to
encourage them to employ individuals under the age of 21.
Background to the measure
The abolition of employer Class 1 secondary NICs for employees under the age of 21
earning up to the UEL complements other government policies that seek to encourage youth
employment and boost economic development.
Detailed proposal
Operative date
This measure will take effect from 6 April 2015.
Current law
Section 6(1) of the Social Security Contributions and Benefits Act and the Northern Ireland
equivalent makes employers liable to Class 1 secondary NICs on all earnings paid to
employees over the age of 16 provided the earnings exceed the secondary threshold which
is currently £148 per week.
Proposed revisions
Under proposals and subject to earnings up to the UEL, employers who employ or engage
employees under the age of 21 at or after 6 April 2015 will not be required to pay employer
NICs on the earnings they pay to those employees. The UEL in 2015-16 is expected to be
£813 per week (annual equivalent £42,285).
Tax Information and Impact Note 1 5 December 2013
2. Summary of impacts
This table represents the Government's current understanding of the impact of this measure.
2013-14 2014-15 2015-16 2016-17 2017-18 2018-19
nil nil -465 -495 -520 -530
Exchequer
impact (£m)
These figures are set out in Table 2.1 of the Autumn Statement and have
been certified by the Office for Budget Responsibility. More details can be
found in the policy costings document published alongside the Autumn
Statement.
Economic
impact
The measure will abolish employer NICs for employees under the age of 21
earning up to NICs UEL in any pay period. Reducing the fiscal burden of
employer NICs will support youth employment. The overall economic
impact of this measure will depend on aggregate labour demand and the
performance of the wider economy.
Impact on
individuals
and
households
The employer NICs liability for nearly 1.5 million employees aged between
16 and 20 will be eliminated. While there are no direct impacts on
individuals and households, one of the goals of the measure is to support
youth employment and thereby benefit individuals and households,
especially those in lower income groups and areas particularly affected by
youth unemployment.
Equalities
impacts
The policy discriminates in favour of those aged under 21 in order to
improve their prospects on the employment market. There is a strong policy
rationale for focusing help on reducing youth unemployment, and this
measure aims to help those at the youngest end of the employment scale
where unemployment levels are at their most acute. Accordingly, the scope
of the measure represents a proportionate response to the issue of youth
unemployment.
Impact on
business
including
civil society
organisations
There will be some additional burdens on employers to update their
systems so the correct NIC letter is applied to employees who are under
21. The measure is expected to directly affect around 340,000 employers.
In the majority of cases payroll software will be able to implement the
exemption automatically. The ongoing administration costs relate to
employers who may need to update their systems manually. The ongoing
cost is estimated to average just under £5 per eligible employee (totalling
£700,000 across affected businesses).
Anticipated one-off costs relate to training and familiarisation, given this a
relatively straightforward change it is assumed to require around 30
minutes of preparation per employer already employing under 21 year olds
and a smaller time period for all other employers. In total, HMRC
anticipates one-off costs across employers of around £7.5 million.
Estimates of compliance costs are shown in the table below, including an
estimate of total costs for a five year period at present value.
Cost Time Period
Compliance Cost
One-Off Costs £7.5m N/A
Average Annual Costs £0.7m 5
Total Costs (PV) £11m N/A
Compliance Benefits N/A N/A
One-off Benefit N/A N/A
Tax Information and Impact Note 2 5 December 2013
3. Average Annual Benefit N/A N/A
Total Benefit (PV) N/A N/A
Net Compliance Benefit
(NPV)
-£11m 5
Impact on Administrative Burden (included in Net Compliance Benefit)
Increase Decrease Net Impact
£0.7m £0 £0.7m
Operational
impact (£m)
(HMRC or
other)
The cost to HMRC of implementing this change is estimated to be in the
region of £2 million. This is made up of £1.7 million IT costs and £300,000
staff costs for delivery.
Other
impacts
Small and micro business assessment (SMBA): This measure is likely to
have a positive impact on small and micro businesses as it will encourage
them to recruit and retain employees under the age of 21. There will be
some additional burdens placed on SMBAs to update their systems so the
correct NIC letter is applied to employees who are under 21.
Competition assessment: this measure is not targeted at any specific
sector. All employers are eligible, so its introduction is unlikely to affect
competition.
Other impacts have been considered and non have been identified
Monitoring and evaluation
This policy will be kept under review through communication with affected taxpayer groups.
Further advice
If you have any questions about this change, please contact David Woodhouse on 03000
586840 e-mail: david.woodhouse@hmrc.gsi.gov.uk and Ativie Edebiri on 03000 584748
e-mail: ativie.edebiri@hmrc.gsi.gov.uk
Declaration
David Gauke MP, Exchequer Secretary to the Treasury, has read this Tax Information and
Impact Note and is satisfied that, given the available evidence, it represents a reasonable
view of the likely costs, benefits and impacts of the measure.
Tax Information and Impact Note 3 5 December 2013