020 8959 0099 payroll@quickpaye.co.uk
APRIL SPRING INTO ACTION – NEW PAYROLL LEGISLATION TO NOTE!

APRIL SPRING INTO ACTION – NEW PAYROLL LEGISLATION TO NOTE!

AUTO ENROLMENT PENSION CONTRIBUTIONS INCREASE FROM APRIL 

With effect from 6th April, the minimum automatic enrolment (AE) contributions you must pay towards your employees’ pensions will increase. You will now need to contribute at least 2%, whilst the employee is required to contribute 3% themselves through automatic wage deductions. The government has warned that any failure to abide by these new regulations will lead to financial penalties for the organisation in question

STATUTORY PAY RATES TO INCREASE

The weekly pay rates of statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP) and shared parental pay (ShPP) will all increase from £140.98 to £145.18.

Coinciding with the new tax year, statutory sick pay (SSP) will increase from 6th April from £89.25 to £92.05 a week. The average weekly earnings limit which an employee must reach to be eligible for these statutory payments will also rise from £113 to £116 a week.

NATIONAL LIVING WAGE AND MINIMUM WAGE INCREASE

You will need to ensure you are paying your employees the new rates.

From the 01st April 2018 the Minimum Wage rates has increased as below:

  • 25+ year olds – NMW (National Living Wage) will increase from £7.50 to £7.83 per hour
  • 21 – 24 year olds – MW will increase from £7.05 to £7.38 per hour
  • 18 – 20 year olds – MW will increase from £5.60 to £5.90 per hour
  • 16 – 17 year olds – MW will increase from £4.05 to £4.20 per hour
  • Apprentice rate (for apprentices under the age of 19 or 19 and over but in the first year
    of apprenticeship) – MW will increase from £3.50 to £3.70 per hour

 

INTERNATIONAL PAYROLL DAY THURSDAY 4TH MAY!

INTERNATIONAL PAYROLL DAY THURSDAY 4TH MAY!

DID YOU KNOW THAT 4TH MAY IS INTERNATIONAL PAYROLL DAY???

LET’S PUT PAYROLL ON THE MAP!

This historic occasion is being held to bring together the global and in country payroll community to honour all of our achievements around the world.

We can reflect our growing strategic importance to the business.

Here at Quickpaye we are marking this event with a SPECIAL OFFER!

FREE SET UP FOR THE MONTH OF MAY if you want us to run your payroll for you! THIS IS WORTH £60 + !!!

We pride ourselves on being better than the people next door, we are always here to answer all queries and provide help with especially AUTO ENROLMENT which is a tough subject for all!

 

DO NOT IGNORE YOUR PENSION DUTIES – YOU RISK YOUR CREDIT RATING!

DO NOT IGNORE YOUR PENSION DUTIES – YOU RISK YOUR CREDIT RATING!

If you persistently ignore the penalty notices from the Pensions Regulator, then you risk receiving a COUNTY COURT JUDGEMENT for a failure to pay!

We are starting to see the first employers getting a CCJ, which can risk the future of your business!

Contact the Pensions Regulator before this happens to you. They can help you to avoid serious consequences.

Employers within the food and drink sector have recently been issued with a large proportion of penalty notices. In this sector there are typically employed a large number of temporary workers, with many people employed without a contract.

If you are worried about this happening to you then just call us at Quickpaye for our expert help and advice. We can make this headache dissolve away!

Pension participation rates hit a new high! This is all thanks to auto-enrolment!

Pension participation rates hit a new high! This is all thanks to auto-enrolment!

So thanks to Auto Enrolment, more than 15 million people had signed up to a workplace pension by the end of 2015, and  that is 10.6 million more than were enrolled at the start of 2012. This is according to the latest figures released by the Department for Work and Pensions and this is a staggering amount of people.

In plain language, this means that 75 per cent of eligible employees are now enrolled in a workplace pension.

Participation is up across all age and income groups, with the largest increases taking place in the private sector.

Employers need to make sure that their employees are aware of the value of this benefit, as well as the fact that it will be their responsibility to take the decisions to make the most of their pension when the time comes.

Employers can use this to offer incentives to their staff.  Instead of an increase in salary, it can be more beneficial to offer to increase the amount of pension paid into the pot, since it will save them tax on the pension contribution.

Auto Enrolment is a key role in retirement planning now for generations to come.

IF YOU ARE HAVING ISSUES WITH AUTO ENROLMENT, THEN CALL US NOW AND WE CAN MAKE THIS HASSLE FREE FOR YOU!