Workplace pension responsibilities are from day one of talking on your employee

Taking on your first member of staff is a big moment for any employer If you have recently become an employer for the first time, you will have workplace pension responsibilities from the moment your new employee starts working for you. You should use the The Pensions Regulator simple online tool to understand what you need to Read more about Workplace pension responsibilities are from day one of talking on your employee[…]

Increase in Student Loan Plan 1 and 2 thresholds

The thresholds of Plan 1 and Plan 2 student loans will be increasing from April 2019. The current thresholds (for 2018-19) are: Plan 1 – £18,330 Plan 2 – £25,000 The Department for Education (DfE) has confirmed that from 6 April 2019 the thresholds will increase to: Plan 1 – £18,935 Plan 2 – £25,725 Read more about Increase in Student Loan Plan 1 and 2 thresholds[…]

Main points from the budget (29 October 2018)

Here are some of the key points from the budget of 29 October 2018: Savings The ISA allowance is held at £20,000. The Junior ISAs annual allowance and Child Trust Funds for 2019/20 will be increased in line with CPI to £4,368. National Savings and Investments (NS&I) have announced the minimum investment for premium bonds Read more about Main points from the budget (29 October 2018)[…]

Auto Enrolment – Change in contribution rates from April 2019

The minimum contributions that you and your staff pay into your automatic enrolment workplace pension scheme are increasing. This is also sometimes known as phasing. It is your responsibility to make sure these increases are implemented. What do you need to do next? You’ll need to ensure you collect and pay the correct contribution amounts Read more about Auto Enrolment – Change in contribution rates from April 2019[…]

On 6 April the minimum amount employers must pay into workplace pensions is going up

On 6 April 2018, by law, the minimum amount employers have to pay into workplace pensions goes up to 2% of qualifying earnings, while staff will now contribute 3% – making a combined total minimum contribution of 5%. Automatic enrolment has so far put more than nine million workers into workplace pension schemes. All of Read more about On 6 April the minimum amount employers must pay into workplace pensions is going up[…]

National Minimum Wage and Live In Wage rates from 1 April 2018

The National Live in wage is set to rise in April 2018 and will replace some of The National Minimum Wage rates per hour depending on your age and whether you’re an apprentice – you must be at least school leaving age to get it. New rates, which come into effect from 1 April 2018. Read more about National Minimum Wage and Live In Wage rates from 1 April 2018[…]

As a director, what should I pay myself in 2018/19?

Such a simply question, you would think, however it produces a complicated answer. For this calculation, we have assumed the following: The director wants to preserves their entitlement to state benefits, and The director wants a salary which saves the most tax and national insurance. First of all let us look at preserving your entitlement Read more about As a director, what should I pay myself in 2018/19?[…]

National Minimum Wage and Live In Wage rates from 1 April 2017

The National Live in wage is set to rise in April 2017 and will replace some of The National Minimum Wage rates per hour depending on your age and whether you’re an apprentice – you must be at least school leaving age to get it. New rates, which come into effect from 1 April 2017. Read more about National Minimum Wage and Live In Wage rates from 1 April 2017[…]