Guidance on PAYE Reporting for Early Christmas Payments
Since 2019, there has been a permanent easement for reporting PAYE information in real time. This is where employees receive their pay earlier than usual at Christmas. Reporting the Contractual Pay Date Where an employer closes on the usual (contractual) payday, such as at Christmas or on bank holidays, HMRC advises to report the contractual […]
NRB Christmas Payroll Schedule
We would like to inform all our valued clients that the payroll office will be closed for the festive period. We close on Monday, 23rd December 2024, and will reopen on Thursday, 2nd January 2025. During this time, our team will not be available to process payroll or handle any queries. Please take note of […]
Key Changes to Employers’ National Insurance
Chancellor Rachel Reeves’ Autumn Budget has introduced several notable changes to Employers’ National Insurance (NI) rates and thresholds, which will impact payroll costs for many UK businesses. Key Changes to Employers’ NI Effective from 1 April 2025, the Employers’ National Insurance rate will increase from 13.8% to 15%. Alongside this, the threshold at which employers […]
Payrolling of Benefits in Kind – Mandatory from 6 April 2026
Are you aware that from 6 April 2026, employee Benefits in Kind (BIK) will have to go through your payroll? What does it mean for you? The formal payrolling of benefits allows employers to subject the taxable value of the BIK to tax via the payroll during the tax year. This can include benefits such […]
Don’t Miss Out: Claim Your Child Benefit Now!
New parents, take note! With September 26th being the most popular birth date in the UK, HM Revenue and Customs (HMRC) is urging all new parents to claim their Child Benefit. The process is quick, easy, and can be completed online, with the first payment potentially arriving within a week of your claim. Why Child […]
Impact of Late Submissions and Payments to HMRC for PAYE
Are you aware of the importance of submitting your payroll data and paying your PAYE bill on time? Late RTI Submissions (Caused by not sending your payroll information on time) When Penalties are Charged: Firstly, you may incur a penalty if: Secondly, HMRC Will Not Charge a Penalty If: Penalty Amounts The amount you pay […]
HMRC New Tool for Voluntary National Insurance Contributions
In the UK, the National Insurance (NI) system serves as a fundamental pillar of the welfare state, providing financial support and services to individuals throughout their lives. National Insurance Contributions (NICs) require mandatory payments made by most employees, employers, and self-employed individuals to fund state benefits, including the State Pension, statutory sick pay, and unemployment […]
Employers: Getting Ready for Tax Year end 2023/24 and Welcoming the New Tax Year 2024/25
As the end of another tax year approaches, it’s essential for employers to ensure they’re prepared for the transition from tax year 2023/24 to 2024/25. This article provides a comprehensive guide to help employers understand and comply with the necessary procedures. Ensuring Accuracy and Compliance for Tax Year End 2023/24: Employee Information Verification It’s crucial […]
Reduction to Employee National Insurance
Most employees will pay less in national insurance from 6 January 2024. National insurance contributions will be cut from 12% to 10%, on earnings of between £12,570 and £50,270 a year. This means that employees will start benefitting from the reduction in the first pay of the New Year. This legislation change will be updated within your […]
Reporting PAYE information at Christmas
Since 2019, there has been a permanent easement for reporting PAYE information in real time where employees receive their pay earlier than usual at Christmas. Where an employer closes on the usual (contractual) payday, such as at Christmas or on bank holidays, HMRC advises to report the contractual pay day on the full payment submission […]
