Every new tax year brings change, but this year is shaping up to be busier than normal, with several important regulatory changes taking place in early 2019 and beyond that, will have lasting impacts on employer payrolls.
Changes include new information on payslips, with employers having to provide the number of hours worked on each employee payslip. The minimum auto-enrolment contributions beginning 6 April 2019 are also due to change. The phased increases will bring employer contributions up to 3% and employees up to 5%. Also with the introduction of the Scottish tax in 2017, taxes across the UK have become more complicated. In April 2019, the new addition of Welsh Tax Rates will complicate matters further. In addition the thresholds for repayment of student loans are changing in 2019 and so if you have employees with student loans, payroll and payslips must be accurate and show the deductions.
In addition there are changes to the National Minimum Wage, Sick pay and Maternity pay. An updated advo HR Key Facts brochure will be available in April.
If you are struggling with managing your payroll, remember that advo has its own payroll division which can link into the new HR online absence management portal and your employee benefits so staff can view payslips and benefits online. Often if you are already an HR or employee benefits client then preferential rates are available. If you want to know more, then drop your advo account manager an email or contact our head of payroll, Andy Henderson, direct on firstname.lastname@example.org