Chancellor’s 2019 Spring Statement
For a review of the Spring Statement, please see this article by Croner Taxwise.
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Company Car Fuel Rates
HMRC has updated the fuel rates that can be reimbursed to employees with company cars for business miles. Use of these rates with suitable mileage records should ensure that the employee will not be taxed for the fuel benefit. To see details of the rates reproduced by ICAEW see. Do let us know if you need…
New Payslip Legislation
From 6th April 2019 new legislation around providing payslips comes into effect, under which: All employers will be required to provide payslips to all ‘workers’, and Show hours worked on payslips where the pay varies by the number of hours worked For more details visit the notes provided by CronerTaxwise.
Workplace Pensions – Contribution Increase
This April sees a further increase in the level of pension contributions required to be made by both employers and employees. The total minimum contribution will rise from 5% total to 8%, with the employees contributions rising to 5% of gross pay and the employers contribution rising to 3%. It will be interesting to see,…
NMW & NLW Increases
The National Minimum and National Living Wage increase on 1 April 2019 – The National Living Wage, which is the statutory minimum for workers aged 25 and over, will increase by 4.9% to £8.21 per hour on 1 April 2019. National Minimum Wage rates for younger workers will also increase above inflation. See summary of…