HMRC New Tool for Voluntary National Insurance Contributions
In the UK, the National Insurance (NI) system serves as a fundamental pillar of the welfare state, providing financial support and services to individuals throughout their lives. National Insurance Contributions (NICs) require mandatory payments made by most employees, employers, and self-employed individuals to fund state benefits, including the State Pension, statutory sick pay, and unemployment […]
Employers: Getting Ready for Tax Year end 2023/24 and Welcoming the New Tax Year 2024/25
As the end of another tax year approaches, it’s essential for employers to ensure they’re prepared for the transition from tax year 2023/24 to 2024/25. This article provides a comprehensive guide to help employers understand and comply with the necessary procedures. Ensuring Accuracy and Compliance for Tax Year End 2023/24: Employee Information Verification It’s crucial […]
Reduction to Employee National Insurance
Most employees will pay less in national insurance from 6 January 2024. National insurance contributions will be cut from 12% to 10%, on earnings of between £12,570 and £50,270 a year. This means that employees will start benefitting from the reduction in the first pay of the New Year. This legislation change will be updated within your […]
Reporting PAYE information at Christmas
Since 2019, there has been a permanent easement for reporting PAYE information in real time where employees receive their pay earlier than usual at Christmas. Where an employer closes on the usual (contractual) payday, such as at Christmas or on bank holidays, HMRC advises to report the contractual pay day on the full payment submission […]
NRB Payroll – Delivering quality payroll services
Our Payroll Team here at NRB will provide you with not just an efficient service, but full confidence that your payroll needs are being looked after by a knowledgeable and professional team with over 40 years’ experience between them. Led by Senior Manager Emma Peers, the NRB payroll team process over 800 payrolls per month, […]
