07 May

EmployerTalk 2008

EmployerTalk 2008 took place today held by HMRC for all you employers out there....if you could not spare the morning to make it, Mazuma did for you and here is a summary of what was mentioned...

  1. Company Cars:  Car fuel benefit multiplier raised to £16,900, for any other updates click here
  2. Student Loans:  You must now action notices on the 'first available pay day', you no longer need to wait at least 6 weeks before actioning and start or stop notices
  3. SSP:  If your employee leaves whilst you are paying them SSP you no longer need to complete a SSP1L form
  4. No Payments to make:  If you are not currently employing anyone, or you pay them below the threshold so you do not have any PAYE or NI payments to make, you can go here to inform HMRC
  5. Payment Dates:  If you pay electronically then HMRC must receive the money in their account by the 22nd of the following month.  If you pay via cheque, they will need to have it by the 19th.  So pay via BACS!
  6. Tax Tables:  As you may have heard in the press, the controversial decision has been made to abolish the 10% tax band and the basic rate of 20% is now payable on all earnings up to and including £36,000 - this will come into effect after 17/05/08
  7. Minimum Wage Change From October 1st 2008:  This will rise to £5.73 for 22+ years old, and £4.77 for both 18-21 years and 16-17 years old
  8. P11ds:  HMRC have realised that the P11d is not a very effective format to report benefits in kind, so prepare for a new system to come in in about 3 years
  9. Migrant Workers:  For further help on employing migrant workers try here
  10. Pension Tracing Service:  Have you lost touch with a pension from many years ago?  Ask for a trace by calling 0845 600 2537, writing to:  Pension Tracing Service, Future Pension Centre, Room TB001, Tyneview Park, Newcastle Upon Tyne, NE98 1BA, or clicking here

So there you are - all the latest payroll updates for you without leaving your office!

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