Knowledge Bank

Increase Of Automatic Enrolment Contributions

The minimum contributions employer and your employee pay into your automatic enrolment workplace pension scheme will increase from 6 April 2019. This is also sometimes known as phasing. All employers with staff in a pension scheme for automatic enrolment must take...

Pension Automatic Enrolment (PAE)

Under the Pensions Act 2008, every employer in the UK must enrol certain staff into a workplace pension and contribute towards it. This is called 'automatic enrolment'. Overview Employers are required to enrol their eligible workers into a workplace pension if they...

How to Identify Your IR35 Status?

To make sure that your contract does not fall into IR35; you must explicitly and clearly mention any work-related approach that you use with your clients. HMRC is going to be stringent about the working practices in order to assess the status of your IR 35. This...

What is a P60 Form?

HMRC has assigned yet another mysterious name to one of its forms. The form we are talking about is the P60 form and you are now going to understand its relevance.   What is a P60 form? The P60 form is an outline that contains all your salary and deduction details for...

Understanding your Tax Code 2018 – 2019

  Your tax code is used by your employer or pension provider to work out how much Income Tax to take from your pay or pension. HM Revenue and Customs (HMRC) will tell them which code to use to collect the right tax. Your tax code will normally start with a number...

Umbrella Companies & Employer’s National Insurance (NIERS)

For permanent employees, companies are liable for Employer’s NIC—National Insurance Contribution. The rules are not dissimilar for the umbrella companies, hence it is mandatory for employers to comply with Employer’s NIC. Umbrella companies must modify the pay rates...

Over-Arching Contracts of Employment

Contractors who work with umbrella companies should understand the fact that the latter is also essentially an employer. Thus, it is mandatory for them to sign a Contract of Employment—also known as a contract of service. The Ready Mixed Concrete (South East) Ltd v...

What is a P11D Form?

This article would go over the P11D form in detail including what to add in it, the right filing period, and the repercussions for not filing it. What is a P11D form? A P11D form is an annual form which is used for reporting fringe benefits or perks. Benefits can be...

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