A Pivotal Stage of Auto Enrolment

By Steven Tucker -

Automatic enrolment was devised with a long term aim that lots of employees should save meaningful amounts for their old age. That aim was divided up into two sections, each subdivided into steps. The first section is called staging and is bringing in lots of employers and their employees, in stages. This is why the date an employer’s duties start is known as their staging date. So what happens if an employer sticks their head in the sand and ignores their staging date?

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Putting the Trust into Master Trust

By Steven Tucker -

In an earlier post I wrote about how pension master trusts could be set up without regulatory approval, leading to a very mixed standard of available workplace pensions. This made it hard for small businesses to know who to trust with their employees’ retirement savings. Since then, the situation has moved on and Parliament has created new powers to tackle the problem.

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The Trouble with the EYU

By Steven Tucker -

When Real Time Information was first introduced, we were told it would save businesses hundreds of millions of pounds, make tax more accurate, reduce tax credits over-payments, enable dynamic adjustment of Universal Credits, move the planets into alignment and bring about world peace. Okay, maybe not the last two.

With such ambitious aims and a very short timescale for implementation, nobody should be surprised that the result wasn’t perfect.

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New Joiner Questions

By Steven Tucker -

When someone starts their first job, they normally don’t have a P45 with their tax code on it. The new employer needs another way to decide which tax code and student loan deductions to apply. HMRC publishes a form for this purpose, but using it can trigger as many questions as answers.

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A Levy for the Apprentice

By Steven Tucker -

The new tax year, starting on 6th April, will see the introduction of the apprenticeship levy, a government measure that comes in two halves. The first half revolves around the word ‘levy’ and involves calculating, paying and reporting a tax based on the amount you pay your employees. The second half concerns the word ‘apprenticeship’ and covers how the money, once paid, can be used to fund apprentices. As I’m in the business of calculating and reporting payroll taxes, I’ll focus on the first half of this measure, concerning the word ‘levy’.
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