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Payroll Challenges - How we can help - EA Assist
EA Assist Ltd offers payroll and bookkeeping services throughout Norfolk and Suffolk. We provide a complete payroll service including CIS, RTI and Auto-enrolment along with Bookkeeping, VAT and Cloud accounting services.
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Payroll Challenges – How we can help

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payroll challenges - how we can help

20 Jun Payroll Challenges – How we can help

Posted at 15:25h in Other by

Payroll challenges – How can EA Assist help?

At EA Assist we offer a comprehensive outsourced payroll function for you and your business. The payroll function is ever changing and we are here to ensure that you stay complaint and avoid penalties.

In the UK, there are several key issues that are currently impacting payroll and the payroll function:

National Minimum Wage (NMW) and National Living Wage (NLW) Increases.

Effective from April 2024, the NLW for workers aged 21 and older has risen by 9.8% to £11.44 per hour, with corresponding increases for younger workers and apprentices. Check out our previous post regarding minimum wages here [https://ea-assist.co.uk/2024/03/12/national-minimum-wage-increase-april-2024/] and check that you are paying your employees correctly.

Holiday Pay and Entitlement Adjustments

Changes include the accrual of holiday pay based on 12.07% of hours worked and the option for rolled-up holiday pay, which allows holiday pay to be included in regular pay rather than being paid out during holidays.

You can find out more about the holiday pay and entitlement adjustments here.

Real-Time Information (RTI) Penalties

A trial program for RTI penalties has been established, aiming to test and refine the regime for late or inaccurate RTI submissions, enhancing compliance and accuracy in payroll reporting.
You can find out more about the penalties you may receive for late submissions here: https://www.gov.uk/guidance/what-happens-if-you-dont-report-payroll-information-on-time

Student Loan Repayment Thresholdsstudent and post graduate loans, student loan deductions, ea-assist, payroll help, norfolk

Adjustments to student loan repayment thresholds will take effect in April 2024, with Plan 1 thresholds increasing, while Plan 2 thresholds remain the same.
You can find out more about student loans, plans and thresholds here: https://www.gov.uk/guidance/special-rules-for-student-loans
All these considerations require employers to update their payroll systems and practices to stay compliant and avoid penalties.

How can EA Assist help?

How can you overcome the challenges of payroll? Its simple, outsource your payroll to EA Assist.

Keeping abreast of legislative changes are essential steps for efficient payroll management but we know it can be time consuming and take your attention away from running your business.

At EA Assist we have expert knowledge and experience of all payroll matters and through our continuous development and industry memberships we keep up to date with the changes in process and legislation so you don’t have to.

Get in touch with us today to find out just how easy and efficient it is to outsource your payroll to the experts. Give us a call now on 01379 646943 or email us at info@ea-assist.co.uk.

 

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