For many years being Self Employed meant working for yourself with no input from anyone else. Gone are the days of “cash-in-hand” as HMRC are clamping down on the whereabouts of Tax and NI for these services. If you are actively sourcing your own work for yourself and have no input from another source then you can be classed as self-employed, if however, you rely on an agency to source you this work then you are classed as employed and so will need to be PAYE or Limited status.PAYE can be … [Read more...]
HMRC ‘unwilling to give any steer’ on IR35 changes
The taxman is “unwilling to give any steer” on his approach to April’s IR35 changes to the very parties who will be liable and responsible for those changes, an agency body alleges.This current reticence by HMRC to provide the parties with the “real detail” on how the new rules will work makes it probable that it won’t be released until next year, says APSCo.The agency body reached this conclusion after it held a meeting with the Revenue’s policy officers Neil Chattell and Julie De … [Read more...]
HMRC launches new employment status unit
Recruiters have been urged to review their practices to ensure individuals are not being misclassified as self-employed.The warning comes from employment lawyers after it emerged HM Revenues & Customs is launching a specialist unit to investigate firms suspected of withholding employment protection from workers, by using agency staff or calling them self-employed.The move was confirmed last week in a letter from financial secretary to the Treasury, Jane Ellison, to Labour MP Frank … [Read more...]
Pension Re-enrolment is here!
We can’t believe that it’s been 3 years since we first completed Auto Enrolment. This means those who have opted out previously and more than 12 months ago, will be re-enrolled if eligible. Here’s what the Pensions Regulator says about re-enrolment:Every three years you must put certain staff back into a pension scheme. This is called ‘re-enrolment’.Your re-enrolment duties must be carried out approximately three years after your automatic enrolment staging date.Your … [Read more...]
Why the future’s not bright for IR35 advice
Caring whether their adviser soon gets stuck between a rock and a hard place isn’t the job of a contractor.But new legislative proposals may mean the upshot of this predicament for advisers is a reluctance for them to assist temporary workers with tax and IR35 advice.This is the realistic prospect of a tabled piece of tax legislation that threatens to drive divisions between adviser (the professional who gives you guidance on IR35, for example) and client (you, the contractor).In the … [Read more...]
Are you ready for the National Minimum Wage changes?
Although the minimum wage for the 25's and over was changed in April when the National Living Wage came into play, there are a few changes for the 1st October for other age groups.Below are the new National Minimum Wage rates:£7.20 - the rate for workers aged 25 and over £6.95 - the 21-24 rate £5.55 - the 18-20 rate £4.00 - the 16-17 rate £3.40 - the Apprentice rateIf you are in doubt as to the agency rates for contract workers or minimum processing rates for our different … [Read more...]
New Tax Avoidance Scheme Uncovered
WARNINGNew tax avoidance scheme uncovered with PSC’sHMRC has warned taxpayers against using a new ER-based scheme to reduce tax payable on earnings to 10%.How it worksThe scheme is described in the latest tax avoidance “spotlight” by HMRC: Capital Gains Tax: Entrepreneurs’ Relief tax avoidance scheme. It has three stages:A taxpayer who owns a personal service company (PSC) in the UK sells that company to an organisation based in Cyprus. This sale is correctly taxed as a … [Read more...]
What Is Outsource Payroll?
Outsource payroll is where companies or agencies choose to save time & money by hiring an external company to process all or some aspects of the payroll function whilst staying compliant and up to date with current legislation.For organisations, ePayMe can offer a wide range of solutions ranging from bureau services to fully managed and compliant payroll processing and submissions to HMRC.For employees who choose to use the services of an outsource provide such as ePayMe, you can be … [Read more...]
Don’t waste time worrying!
UK employees waste 20% of their time worrying about their finances This week, all of us at ePayMe, are celebrating National Payroll Week. We are spending this time to provide useful information to our workers and encourage them to look at payroll in a different way. We are aiming to provide assistance and guidance on ways in which they can save money through their payroll with ePayMe.According to a new report that researched 10,000 UK workers, 70% of the UK workforce admit to wasting a … [Read more...]
Understanding your payslip
How much do you really know about your payslip? There are so many styles and formats of payslips which differ from employer to employer, it can become easier to simply trust your payslip and just take note of your Net pay. However, it’s very important to take the time in understanding your payslip to ensure your take home pay is correct.The first thing to understand is the difference between your gross and net pay. The gross pay is your total earnings before any deductions have been made, … [Read more...]