Employee Information Archives - Merranti Accounting
National Minimum Wage rises
March 15, 2023The annual increase in the National Minimum Wage (NMW) rates are linked to the rate of inflation, which for the past few months has been hovering around 10%. Hence the NMW rates that must be paid for pay periods starting on and after 1 April 2023 have all risen by around 10%. Hourly Rate Age
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Working at home allowance
February 5, 2023Where you are required to work at home, your employer can pay you a tax-free allowance of £6 per week (or £26 per month). This allowance is to cover the additional costs incurred by using your home as a workplace, such as heat, light, metered water, insurance and broadband fees. If your employer doesn’t pay
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Helping your employees
June 26, 2022The cost of living crisis is hitting everyone, including small businesses. You are required to raise the wage rates of employees on the National Minimum Wage by 6.6% for pay periods starting from 1 April 2022, but some employees may still be struggling to make ends meet. Here are a few things your business could do
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National Minimum Wage: Common traps
October 13, 2021National Minimum Wage: Common traps The top three mistakes made by employers concerning the National Minimum Wage (NMW) rates are: 1. Making deductions from wages (such as uniform or expenses) which take the pay below the NMW rate; 2. Failing to pay workers for all the time they work, including overtime; 3. Paying the
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Beware of IR35 traps
July 28, 2021Where a contractor operates via their own personal services company (PSC), work performed for large or medium-sized clients in the private sector may now fall under the ‘off-payroll working rules. This is a new version of IR35, which requires the end client to decide whether there is a deemed employment relationship for tax purposes with
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Company cars – lots of changes!
May 17, 2021Take extra care when reporting company cars on Form P11D over the coming weeks. For 2020/21, there were significant changes to the percentages that need to be applied to the list price of a car when calculating a benefit, namely: Electric cars now have a zero benefit The percentage for cars up to 50g/km of
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Will I get a state pension?
January 27, 2021Will I get a state pension? Individuals who reach #StatePension Age (SPA) on or after 6 April 2016 need to have accrued 35 complete years of National Insurance Contributions (NIC) to receive the full state pension. To receive any UK state retirement pension, you need at least ten complete NIC years. You can check how
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Can I claim working from Home?
January 22, 2021Where you are required to work at home, your employer can pay you a tax-free allowance of £6 per week (or £26 per month). For periods before 6 April 2020, the tax-free allowance was £4 per week (or £18 per month). This allowance covers the additional costs incurred by using your home as a workplace,
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Brexit – Transistion ending
November 16, 2020EU Brexit VAT Changes: The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020. Whatever deal is finally agreed between the EU and the UK government, the EU Brexit VAT Changes rules for UK traders
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Statutory Sick Pay extended
November 10, 2020Employers must now operate two parallel systems of Statutory Sick Pay (SSP) for their employees: COVID-19 related SSP and SSP for all other health related matters that prevent employees from working. In both cases, the employee must earn at least £120 per week and have informed their employer of the illness. In general, SSP is
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