Here’s a round up of the top payroll news for the new tax year.
No More Employer National Insurance to Pay for Under 21s.
This is great news! For those of you who have staff aged 20 and under, you no longer have to pay Employer’s National Insurance for them (as long as you pay them less than £ 3,532 per month). Full details are here:
Continuation of the £ 2,000 Employment Allowance
If you were claiming the £2,000 Employment Allowance last year, you will be able to do so again for this tax year. I will deduct your Employer’s National Insurance costs to a maximum of £2,000 on a monthly basis.
Any unused Employment Allowance from last year can not be taken in to this year – sorry!
Unfortunately this still does not apply to Nanny Payroll clients I’m afraid (I know – it’s rubbish!).
Shared Parental Leave
For babies due (or adopted) after 5th April 2015, the baby’s parents can chose to share the 1 year’s maternity leave AND the maternity pay if they are eligable (which will be transferred to “Shared Parental Leave” and “Shared Parental Pay”).
This will give families a more flexible choice for childcare in the first year and also gives both parents an equal chance of being more involved in those precious baby days.
The ins and outs are pretty complex, but there’s an in depth guide here: www.gov.uk/shared-parental-leave-and-pay
Marriage Allowance Transfer
From April, married couples or partners in a civil partnership can apply for a transfer of some of their taxable allowance if one of the couple’s annual income is less than £10,600 (including pensions, savings and investments).
The maximum amount that can be transferred is £1,060 so a couple using the transfer could benefit from paying up to £212 less tax for the year.
Couples who think they may qualify need to register their interest via: www.gov.uk/marriage-allowance
HMRC will then contact them via email to proceed with the application.
PAYE Customer References
Please be aware that the last 4 digits of the reference you add to your online payment for PAYE have now changed.
Please refer to www.zestpayroll.co.uk/2015/04/monthly-paye-account-office-references-for-online-banking
It’s very important that your payments are allocated to the correct month so please ensure the correct references are used.