Are you ready for the move to employer responsibility from April 2020? IR35 is becoming an increasingly hot topic as we approach the date of April 2020 when legislative change moves responsibility from the worker onto the employer in the private sector.
This is nothing to do with boxing, although the issue of a code KO has floored me. K codes were introduced by HMRC to recover tax from income that was not being taxed in another way (such as benefits in kind), or there was an underpayment of income tax from a previous year.
Most employees are paid on the same date each month, or the last working day of each month. However some employees are paid weekly, every 2 weeks or every 4 weeks. But what has this got to do with Universal Credits?
Millennials are a growing and influential section in today’s workforce. Defined as people born between 1981 and 1996, this group of high-earning 20 to 30 somethings are tech-savvy, socially conscious, ambitious but with a notoriously short attention span. Attracting, motivating and keeping such employees can be a challenge and companies are increasingly looking to innovate with their benefits package to attract and keep these demanding employees.
HMRC is frequently considered to be one of the more old-fashioned public organisations, with highly bureaucratic (and heavily paper-based) processes in place.
The PAYE system for collecting tax from employees’ earnings was introduced in 1944 and has ensured that deductions from employees are paid over to HMRC. Employees have no option but to pay PAYE tax however there is a comprehensive list of benefits and payments that can be provided to employees without any tax consequences.
Dataplan are a fast-growing company (doubling in size in the last 3 years). To support this rapid growth, we need payroll professionals and realised a number of years ago the importance of ‘growing your own’, with apprenticeships playing a key part in the success of this strategy.