2015 BUDGET - UPDATE!! - TAX RETURNS George Osborne announces, class 2 national insurance contributions for the self-employed are to be abolished completely, to help support five million people who are self-employed. As well as the annual tax returns (paper) is to be removed entirely. "We believe people should be working for themselves, not for the taxman. Tax doesn't have to be taxing." … [Read more...]
2015 BUDGET – UPDATE!! – PERSONAL ALLOWANCE & HIGHER TAX RATE
2015 BUDGET - UPDATE!! - PERSONAL ALLOWANCE & HIGHER TAX RATE It has been announced that the personal Tax Free Allowance will increase to £10,800 next year and increase again to £11,000 the following year, effecting an estimated 27 million people. George Osbourne has also confirmed that the threshold in which workers will be required to pay the higher Tax rate will increase to £43,300 by 2017-18 … [Read more...]
Changes to the regulations surrounding the ‘Amendment Regulations’ comes into force this April
Changes to the regulations surrounding the ‘Amendment Regulations’ comes into force this April From 8th April 2015 the DWP (Department for Work & Pensions) have confirmed that there will be a change in regulations (The Social Security (Overpayment and Recovery) Amendment Regulations 2015). With this in place, the DWP will be able to issue a Direct Earnings Attachment up to a maximum of 40% increasing from the current maximum of just 20%. This will be implemented in cases where a individual … [Read more...]
Budget 2015 ‘to restrict, not remove, contractor expenses’ : Contractor UK
With the budget taking place next week, travel and subsistence expenses are high on everyone’s minds! Contactor UK reports: http://www.contractoruk.com/news/0011956budget_2015_restrict_not_remove_contractor_expenses.html … [Read more...]
Right to Work in the UK? – Make Sure YOU get it right!
Further to regulations which came into force on 16 May 2014 you may not be fully aware, or have indeed forgotten, that you can no longer accept an expired passport (unless it is a UK passport or a passport issued by a member state of the European Economic Area) as an excuse to confirm a person’s right to work in the UK. Expired passports that are issued by any other country are not acceptable, even if they purport to contain older immigration stamps, which confirm indefinite leave to enter or … [Read more...]
ePayMe Newsletter – March 2015
ePayMe's Newsletter, keeping Agencies and Contractors up to date with the latest facts, figures and information you might find useful in the world of ePayMe and Payroll. To find out more about any of the topics mentioned in our newsletter, please contact a member of our Customer Relations Team who are always on hand to help. Click Here to view ePayMe's Agency Newsletter. Click Here to view ePayMe's Contractor Newsletter. … [Read more...]
Welcome to ePayMe’s New Recruit Mark Fenton – Payroll Clerk
We would like to give a warm welcome to Mark Fenton the latest recruit in the ever growing ePayMe family. Mark has joined the Payroll Team helping with the day to day running of this busy department at the Head Office in Sandhurst. We thought, what better way to find out more about Mark, than to ask him a range of bizarre questions. CLICK HERE TO SEE MARK'S ANSWERS … [Read more...]
Changes in Reporting Requirements set for April 2015
Recruitment agencies: what the April 2015 changes in reporting requirements mean for you. As every recruitment agency, umbrella company and contractor knows, HMRC are continually changing legislation in their efforts to crack down on tax avoidance and to discourage behaviour such as disguised employment. While legislative tweaks may be put into place with the intention of targeting tax avoiders, it is often those honest contractors and compliant agencies who bear the brunt of any … [Read more...]
193 Agencies found ‘Not Good Enough’ for REC Membership
With the spotlight currently shining brightly on non-compliant ‘Umbrella’ Companies, we're afraid to say that those fully compliant brollies are also being lit up by the spotlights beam! However, it is reassuring to know that Recruitment Agencies too are facing similar issues, whereby, and in an article published by Recruitment International, 193 agencies were found to be not good enough for REC membership following their failure to pass REC’s own compliance tests. In view of this, ePayMe feel … [Read more...]
Tax and NI Threshold 2015/16
With 2016’s Tax rates/NI thresholds having finally been published by HMRC, there is some good news, albeit very slight, in that next year’s emergency code (1060L not 1050L as previously thought) means the average contractor will be better off by about £2.40 per week. Although it doesn’t appear to be much, every little helps! It is not all roses though as the 40% Tax bracket has again been lowered, meaning that middle-high earners won’t feel this benefit. Please see the link below for a full … [Read more...]