Following the Autumn Statement announcement on 22nd November 2023 of a 2 percentage point drop in the standard rates of National Insurance, SD Worx has begun readying its payroll calculation engines for the change. So there are two change points as a result of the announcement: Payments from 6th January 2024 Payments from 6th April … Continue reading January 2024 National Insurance Change
Category: 2023 Legislation Update
The HM Revenue and Customs Software Developer Support Team have confirmed changes to the acceptable P11D submission due from 6th April 2023 and onwards. Although paper forms may still be issued to relevant employees as a copy, the submission of paper forms to HMRC is no longer permitted. In a message to software developers entitled: Subject: PAYE … Continue reading No more Paper P11Ds to HMRC
rUK England and Northern Ireland Rates of Income Tax Main changes from 2022 £150,000 Additional Rate threshold (45%) lowered to £125,140 All other rates and thresholds have been frozen Additional Rate threshold now aligns with free pay tapering which occurs after £100,000 UK Income Tax and SD Worx Pay The application of income tax calculations … Continue reading Income Tax Rates for (rUK) England & Northern Ireland 2023/2024
The Scottish Budget 2023-2024 was presented to the Scottish Parliament on Thursday 15 December 2022. The main changes are in the top two income tax rates, which will rise by a penny in the pound from April 2023 taking the higher rate from 41p to 42p and the top rate from 46p to 47p. The … Continue reading Scottish Income Tax Rates
The Welsh draft budget announcement of 13th December 2022 has proposed no changes to Welsh income tax rates, and a continuance to mirror the equivalent tax rates as for the rest of the United Kingdom for the 2023/2024 tax year. The thresholds are not a devolved matter and are set by the Westminster government. These … Continue reading Welsh Tax 2023
The UK Government as part of the Autumn Statement 2022 on 17th November 2022 announced the freezing of standard National Insurance values at current levels from 6th April 2023 and the alignment of earnings thresholds for employee and directors. The blended Director rates applicable from 6th November 2022 are now aligned with the standard employee … Continue reading UK National Insurance Contributions 2023
The Student and Postgraduate Loan Thresholds and rates for payment from 6th April 2023 have been confirmed: DatePlan Type1 ThresholdPlan Type 1 RatePlan Type 2 ThresholdPlan Type 2 RatePost-grad ThresholdPost-gradRatePlan Type 4 ThresholdPlan Type 4 Rate6th April 2021£19,8959%£27,2959%£21,0006%£25,0009%6th April 2022£20,1959%£27,2959%£21,0006%£25,3759%6th April 2023£22,0159%£27,2959%£21,0006%£27,6609% For more information on how to operate Student Loan and Postgraduate Loan deductions … Continue reading 2023 Student Loan and Postgraduate Loan revised thresholds
The Government has announced the rates of the National Living Wage (NLW) and National Minimum Wage (NMW) which will come into force from April 2023. In doing so, it has accepted in full the recommendations of the Low Pay Commission. The rates which will apply from 1 April 2023 are as follows: Rate from April … Continue reading National Minimum Wage and National Living Wage increases April 2023
The UK Government have confirmed changes to the statutory payment values and thresholds which align with the announced National Insurance contributions Lower Earnings Limit. SSP Statutory Sick Pay (SSP) is a state payment paid by employers. The weekly rate is reviewed annually and uplifted generally from the start of the new tax year. The applicable … Continue reading UK Statutory Payments 2023
I am pleased to be able to let you know that I have today [26th January 2023] announced the outcome of the review of the Automatic Enrolment Earnings Trigger and Qualifying Earnings Band for 2023/24. The thresholds will be maintained at their 2022/23 values: The automatic enrolment earnings trigger will remain at £10,000; The lower earnings limit … Continue reading Pension AE Thresholds Frozen for April 2023
The Home Office have asked if the SD Work Knowledge Centre would share the following information with its readership. 1 March 2023 We are writing to inform you that the ‘Employer’s guide to right to work checks’ available on GOV.UK has been updated: The most significant updates relate to: clarification for employers on the use … Continue reading Right to Work update: Employer’s guidance
HM Revenue and Customs has informed employers as part of the February 2023 Employer Bulletin of changes to reporting benefits. Employers must register now Reporting expenses and benefits for the tax year ending 5th April 2023 From 6th April 2023 HMRC will no longer accept new informal payrolling benefits arrangements. For those employers who have informal payrolling … Continue reading Major changes to reporting benefits
The UK government publish a list of Bank and Public Holidays for each of the United Kingdom (UK) nations. The notified dates for England and Wales are operated as non-banking days for the whole of the UK and the BACS services. These dates are updated by SD Worx within the Calendar operation for utilising the … Continue reading UK Bank Holidays 2023 (England and Wales)
Do you operate payroll on the Islands of Guernsey. The SD Worx pay solution (HRe Active Technology) has facilities that can support employers in the operation of Guernsey Payrolls. Please note that it does not cover the electronic reporting to the states authorities however, the data can be exported and reported using the Guernsey online … Continue reading Channel Islands – Guernsey – 2023