HM Revenue and Customs (HMRC) have issued the Employers Bulletin for April 2018. This updates employers with information in respect of the new tax year. Please follow this link.
HM Revenue and Customs (HMRC) publishes the employer bulletin 6 times a year. They give employers and agents the latest information on topics and issues that may affect them.
You can download and read the employer bulletin on screen or print it off.
The employer bulletin is only available online. You can register for HMRC’s employer email alert service to receive emails from HMRC which tell you when the latest issue is available.
To view the employer bulletin you need to use a PDF file viewer such as Adobe Reader, which is available to download free of charge from the Adobe website. If you have any issues opening the bulletin, using the latest version of Adobe Reader will resolve most of these.
For customers using screen reading software, the employer bulletin is compatible with most software packages.
If you are an employer, you may be affected by the changes to the National Living Wage. These come into effect from 1 April 2018.
The main rate for employees 25 and over is increasing from £7.50 p/h to £7.83 p/h.
The rate for employees aged between 21 and 24 is increasing from £7.05 p/h to £7.38 p/h.
The rate for employees aged between 18 and 20 is increasing from £5.60 p/h to £5.90 p/h.
The rate for employees aged under 18 is increasing from £4.05 p/h to £4.20 p/h.
The apprentice rate is increasing from £3.50 p/h to £3.70 p/h (*).
(*) apprentices are entitled to the apprentice rate if they are either aged under 19, or aged 19 or over and in the first year of their apprenticeship. Additionally, apprentices are entitled to the minimum wage for their age if they are aged 19 or over, and have completed the first year of their apprenticeship.
Further information can be found here.
Becoming a new employer can be liberating in terms of having more hands to help in your business, but it can also be frustrating and challenging, in terms of knowing the best way to go about things. Issues like holidays, grievances and absenteeism can be a minefield. Fortunately, ACAS have provided a guide for new employers, which can help employers to approach a particular area. Click on ‘acas’ for details:
The guide provides useful summary information under eight separate headings:
As accountants, we can help with wages, including the provision of payslips, the submission of returns to HM Revenue and Customs (HMRC) under the Real Time Information (RTI) initiative, and letting you know how much tax and national insurance to pay HMRC. See here for more details.
