The Chancellor has announced in the Autumn Statement a series of changes that will affect finances.Jeremy Hunt started his speech in the House of Commons, stating that in the face of "unprecedented global headwinds, families, pensioners, businesses, teachers, nurses and many others are worried about the future. He says the plan leads to lower energy bills and a stronger health and education system.Here is an overview of the key points from the statement.Tax and wagesThe … [Read more...]
Another Charity We Support
How we continue to raise money for charity.We are so proud of our Chairman, Andrew Johnston who took part in a charitable event throughout the month of October, raising money for Dementia UK and helped raise over £416,000 during a month-long walking event.Andrew, and so many other families are and have been affected by some form of dementia and he believes the more we can do to raise money and awareness, the better chances we have as a collective to help find a cure, but to also help … [Read more...]
Working through an Umbrella Company, Key Information Documents and Your Employment Rights
An Umbrella Company like ePayMe, is a business that is used predominantly by Recruitment Agencies to pay temporary workers. Your umbrella company is your legal employer and will pay you PAYE. However, the work you carry out will be sourced by the Recruitment Agency on a short term and on an assignment by assignment basis.Before the Recruitment Agency can offer you an assignment, they may ask you to be employed by one of their preferred Umbrella Companies. Many Umbrella Companies are … [Read more...]
National Insurance Increase Reversal; What this means for your payroll
As the Government is committed to a low-tax, high growth economy to ensure people retain more of the money they earn and for businesses to be able to invest, grow and be productive an announcement was made, that the National Insurance Contributions increase will be reversed along with the provisionally planned Health and Social Care Levy.National Insurance rates from 6th November 2022 will be reduced, removing the 1.25% increase for the remainder of the tax year. The Health and Social … [Read more...]
HMRC ‘will resist any reversal of end-clients making decisions on IR35’
The taxman will oppose any deviation from the central tenet of IR35 reform – that engagers decide the status of their limited company contractors.Issuing this assessment, HMRC dispute firm WTT Consulting could have been trying to clue-up or warn those hoping chancellor Jeremy Hunt uses his Autmn Statement 2022 on November 17th to announce an off-payroll review.Dolan Accountancy But the firm’s Graham Webber, who specified the resistance by HMRC to removing clients as the IR35 … [Read more...]
Rishi Sunak wins race for prime minister keeping Investors calm
Rishi Sunak has won race for prime minister. This in turn has eased the nerves of investors.The pound stayed mostly unchanged against the dollar on Monday afternoon. Earlier Monday, the pound had risen close to $1.14 against the dollar before falling back.Former PM Boris Johnson withdrew from of the race on Sunday.Investors were spooked after then-Chancellor Kwasi Kwarteng promised for major tax cuts without saying how they would be paid for - something Mr … [Read more...]
Breaking News : Chancellor reverses almost all new tax measures
Today Chancellor Jeremy Hunt has reversed almost all new tax measures previously set out by new prime minister Liz Truss. In review some of the changes are:The government is scrapping almost all of the tax measures announced in its mini-budget three weeks ago, new Chancellor Jeremy Hunt announces- The basic rate of income tax will remain at 20p indefinitely - instead of being reduced to 19p But the planned cut to stamp duty and National Insurance will go ahead Hunt says the … [Read more...]
Retained EU Law (Revocation and Reform) Bill
There are so many headlines in the mix today that we don't know which ones to shout about first.What with IR35 determinations being handed back to the contractor, Living Wage changes, revoking of the National Insurance increase...... the list goes on.We try to report on important information in our sector and topics that affect our contractors and agencies.This little snippet nearly got lost in the mini budget news. There was an employment law development yesterday and it is very … [Read more...]
New rates announced by Real Living Wage Foundation
The Real Living Wage Foundation has announced the new hourly rates for the Real Living Wage. Across the UK the rate will be £10.90, a £1.00 rise, and £11.95 in London, an uplift of 90p. This increase of 10.1% is the largest in the foundation's history and marks the hourly rate at £1.40 above the National Living Wage of 9.50 for those aged 23 and over.The announcement of these rates was due in November but was brought forward in response to the rapidly increasing cost-of-living. … [Read more...]
National Insurance rise to be reversed in November
A 1.25% rise in National Insurance will be reversed from 6 November and the government will axe a planned tax rise to fund health and social care.The NI rise was introduced in April under former chancellor Rishi Sunak, but during the Tory leadership race Liz Truss pledged to change it.New chancellor Kwasi Kwarteng made the announcement ahead of a "mini-budget" on Friday.He said: "Taxing our way to prosperity has never worked."To raise living standards for all, we need to be … [Read more...]