The Latest Payroll Legislation
2015 has been a big year for payroll legislation. Not only were there changes to the tax codes in April, but there have also been some major updates to the way payroll is processed and reported to HMRC. Fail to comply with these new obligations and you risk a hefty fine.
New payroll legislation in 2015:
- Automatic Enrolment of Workplace Pensions – Employers with 30 employees or less have to start ‘staging’ from 1st June 2015.
- Real Time Information (RTI) penalties – Businesses with 30 or fewer employees will be fined £100 or more for late or non-filing of PAYE information after each pay run.
- Shared Parental Leave – Parents can choose to share parental leave and pay from 6th April 2015.
- Shared PAYE Personal Allowance – Married couples and civil partnerships can transfer up to 10 percent of their personal allowance to their partner.
- Abolition of Employers NICs for young employees – New NI categories have been introduced for employees under the age of 21 to encourage businesses to employ young people.
- Removal of 26 week rule for Statutory Adoption Pay – Employees no longer have to work for 26 weeks to be eligible for adoption pay.
Let Primo Payroll do the leg work
If there’s one thing you can guarantee in business, it’s that just when you’ve got your head around the latest payroll legislation, there’ll be a host of new changes for you to get to grips with.
Keeping up with the latest legislation can be a daunting task when you have a business to run, which is why you need payroll legislation software you can rely on to keep you up-to-date. Primo Payroll automatically updates every time a legislative change is made, so, the next time you log on, you’ll have everything in place to keep your business on track.
Click here to try Primo Payroll.