Payroll

National Minimum Wage – avoiding the pitfalls It is often assumed that following national minimum wage (NMW) law is as simple as paying your workers the correct amount. But there is far more to consider to make sure you are compliant. With the UK now into the 2024 national living wage increase to £11.44 (for…

Auto Enrolment thresholds remain at £10,000 The auto enrolment pension thresholds for 2024-25 will remain at its current levels, with the initial earnings figure of £10,000 unchanged. The lower earnings limit for qualifying earnings will remain at £6,240, and the upper earnings limit will remain at £50,270, in line with the higher rate tax band…

Scottish taxpayers need to check they have an ‘S’ code Anyone living in Scotland needs to make sure they are on an ‘S’ tax code to ensure they are paying the correct tax. Scottish rates are significantly higher for anyone earning over £43,663 with a 42% higher rate of tax, while those with incomes which…