Spring Budget 2024 – what it means for employers
Today, the Chancellor of the Exchequer set out the Spring budget in which it addressed key areas which we had expected to be addressed given the continued challenges with rising costs. Despite continued financial challenges however, it was announced that the Office for Budget Responsibility (OBR) is reporting economic growth because of falling inflation and […]
The Autumn Statement – November 2023
Today, the Chancellor of the Exchequer has set out his autumn statement, which includes several significant announcements relating to employment and business: There will be an increase to the statutory minimum wage rates from April 2024: a. The national living wage (NLW – the rate for workers aged 21 and above) is to increase by […]
Spring Budget 2023 – What does it mean for you as an employer?
Today, the Chancellor of the Exchequer has set out his Spring budget, and it addresses the key areas we expected. Crucially, the Chancellor reported that the Office for Budget Responsibility (OBR) has said that the UK will now not enter a technical recession this year. In this article, we break down today’s announcement and share […]
Payroll Planning for 2023
The new year often brings change in legislation and tax rates. Keeping on track with your Payroll by staying up to date with these future changes is a great way to ensure that you are running the financial aspects of your business correctly. HMRC has highlighted a number of areas that are going to see […]
What does the Autumn Budget mean for Employers?
We now have further clarity on the Government’s fiscal policy going into 2023 which will now enable businesses to finalise their 2023/24 budgets. The Chancellor of the Exchequer set out in the Autumn budget the following changes regarding business and managing people: The National Living Wage, which is in place for all workers over 23 […]
Are you budgeting for the upcoming changes?
Statutory rate increases In early January, the Department for Work and Pensions proposed what the new rates of pay will be for the annual increase in April. These are expected to be as follows: The rates of Statutory Maternity Pay, Statutory Paternity Pay, Statutory Adoption Pay, Statutory Shared Parental Pay and Statutory Parental Bereavement Pay […]
The Living Wage Budget
This week Chancellor George Osborne unveiled the first completely Conservative budget since 1996, which he used to propose drastic rises to the minimum wage. The new national living wage budget initiative, originally proposed by the Labour Party in the run up to the election, will see the minimum wage increase to £7.20 in April 2016 for over-25s. […]