If you’ve worked in the UK, you’ve encountered national insurance. National insurance is paid by all employees, employers and those who are self-employed. Employees pay it on their wages, employers pay extra contributions for their staff and the self-employed pay it on their profits. Recently, changes have been announced that will alter national insurance paid […]
National Insurance is a type of tax that helps funds state benefits such as a pension, unemployed and other benefits. This is a guide about why we need to pay National Insurance. Why do we pay NI National Insurance is used to pay for the NHS, benefits, sickness, disability allowance and state pension. By law, […]
Maybe you’re wondering to move to Isle of Man to save on tax? Read on to find out the differences in tax rates in the Isle of Man and in the UK, corporation tax, income tax and what the benefits are for some taxpayers. Corporation tax rates in the Isle of Man for most companies […]
Amidst the pandemic, many employees have faced redundancy and therefore left jobless. An overwhelming amount of unemployment has resulted in anxieties across the country about how to make ends meet. Fortunately, there is light at the end of the tunnel, with the government announcing an increase in job opportunities and a potential pay increase for […]
Payroll is when you have employees that are entitled to be able to have payments and other benefits of the workplace and how much they are exactly entitled to. You will have a better understanding of why you can save time by outsourcing your payroll.Why should you outsource your payroll?Let’s dive in, running a business […]
Understanding the different types of payroll schemes can be both a complicated and confusing task. It is to best opt for the one which is best suited for you and your employees in order to unlock savings, enjoy a smooth and cost-effective payroll system. This blog will cover the differences between PAYE (Pay-As-You-Earn) and Umbrella […]
Working remotely is something that has become a big deal in the past year. With the coronavirus pandemic, there has been a huge increase in work from home. But, as the pandemic begins to come to a close, there is a phased return to work. Many employers are wondering how this could affect their businesses […]
It’s the time of the month, or week (depending on how frequently you get paid), to be greeted with your hard-earned money through a document called a Payslip. Hooray! Not only does it contain your gross pay, but also all the necessary deductions that leave you with your overall take-home earnings. It may have also […]
Anything involving the handling and distribution of money is susceptible to errors as well as fraud. It is most commonly seen when employees falsely boost the amount that they should be paid. These actions may have costly consequences, and even damage a company’s reputation. This blog will go through the possible errors and frauds in […]
Pay As You Earn (PAYE), is the most common payroll system for permanent employees. PAYE automatically deduct income tax, national insurance, and student loan payments before the employee is paid their salary. However, payroll can be time-consuming and tiring and many businesses now opt for a payroll company to outsource their PAYE needs – providing […]