Half of the contractors plan to leave clients in the next eight weeks due to changes to the IR35 ‘off-payroll’ rules. The UK’s IR35 legislation ensures that contractors pay the same tax and National Insurance contributions as an equivalent employee.
The minimum wage in the UK national minimum wage sets out the least a worker can be paid per hour by law. The law to introduce the minimum wage was passed in 1998 by the Labour government and it came into force the next year.
National Insurance (NI) is a contribution style system in the UK. This covers state pensions and benefits such as maternity allowance and contributions based on job seeker’s allowance. NI differs from income tax as it is paid at every pay-period rather than yearly and can not be claimed back.
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 […]
Whether you’re an employer or employee, PAYE (pay as you earn) and RTI (real-time information) forms can be quite difficult to get your head around. At Happie Group, we provide help with the following forms: P45, P46(car) P60, FPS and EPS. Keep reading for a simple explanation of what these forms mean for you and […]
With the upcoming legislation change that is occurring in 2020, it is essential you are a complaint about this change. But how do you know if you are IR35 compliant? Here is all you need to know about it. IR35 Checklist: Am I Compliant? If you’re a contractor working out whether IR35 applies to a […]
A change in the legislation will be occurring in 2020, and this is called IR35. IR35 will be reforming the private sector for the self-employed set. This means IR35 is designed to assess whether a contractor is a genuine contractor rather than a ‘disguised’ employee, for the purposes of paying tax. But what does this […]