National Insurance Updates: Are you aware of the changes?

The National Insurance Contribution Threshold will rise to £9,500 a year on 6th April 2020, consequently 31 million UK taxpayers will begin to pay less national insurance!

This means that the typical employee will pay around £104 less in 2020/21, and self-employed people who pay national insurance at a lower rate will have £78 cut from their bill.

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A Quick Guide to Gift Aid – Are you aware of Tax Relief for Charitable Donations?

Tax Relief for Charitable Donations

Are you aware of Tax Relief for Charitable Donations? If you donate to charity, did you know you can do so tax-free? There are various ways of making tax-relieved gifts to charity – the way in which the relief works depends on whether the donation is made via Gift Aid, as a deduction from wages or a pension via the Payroll Giving Scheme, in a will or whether it is a gift of land or property.

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Tackle Cybersecurity for Payroll Records

It’s safe to say that payday is the time of the month that employees look forward to. But there are hidden processes and vital security measures that are necessary to make this coveted day run smoothly. Using an outsourced partner like HB Accountants for your payroll can help you to streamline your payroll and cut the risk of a cyber breach. So, what’s at stake?

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How to Find Help with Payroll

There’s a good deal to think about when running payroll. But the overriding concern is that your payroll must be right, as employees need to be paid correctly and on time. As an employer you are responsible for managing payments, reporting on pay, and paying HMRC, not to mention handling workplace pension contributions, administering childcare vouchers and managing salary sacrifice schemes too. Many companies seek outside help in order to handle their payroll effectively.

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