Anna’s Accountancy Alerts – Week 23 (6th – 12th September 2021)

Two freelance business women in their startup small business.

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Informal payrolling of benefits in kind

HMRC will only accept new informal payrolling arrangements for benefits in kind during the 2021 to 2022 tax year.

Businesses who had previously had an informal payrolling arrangement are expected to register for formal payrolling before April 2022 for the 2022 to 2023 tax year.

Register by April 2022 and have everything in place for 2023. If you don’t want to do this, then consider filing your P11Ds and P11D(b) online. Bring your payrolling processes into the digital age with P11D online filing of benefits in kind

Apply to the Kickstart Scheme to help your business grow

Employers of all sizes can apply for Kickstart Scheme funding to create new jobs for 16 – 24 year olds on Universal Credit.

Funding will cover:

  • 100% of the National Minimum Wage or the National Living Wage for 25 hours per week for a total of 6 months
  • associated employer National Insurance contributions
  • minimum automatic enrolment pension contributions
  • £1,500 grant per job to cover set-up costs and employability support

 

The application process is straightforward, and support is on hand to apply.

The Department for Work and Pensions is running regular Kickstart webinars for employers which you can sign-up for free.

If you have any questions ahead of submitting your application, you can contact national.kickstart@dwp.gov.uk. Alternatively, regional contacts are available. Your regional Kickstart representative will be on hand throughout the process.

Apply online by October 2021 for the best opportunity of taking advantage of the Kickstart Scheme!

Shared parental leave

There is a new online tool to help working families make the most of the Shared Parental Leave and Pay Scheme.

Parents can use the tool to check whether they are eligible for the scheme, see how many weeks of Shared Parental Leave and Statutory Shared Parental Pay are available to them, agree how they will share the entitlement between them, and plan how and when they will take their leave and pay.

The new tool transforms a lot of the detailed rules of the scheme into a simple process; the eligibility checker and planning tool each take less than 5 minutes to complete.

The tool provides guidance only, and employers will still need to check that their employee meets the continuity of the service test for shared parental leave and the continuity of service and minimum earnings tests for Statutory Shared Parental Pay.

Guidance at:

https://www.gov.uk/shared-parental-leave-and-pay

Stay Up-To-Date With Coronavirus & Brexit News

Coronavirus has affected us all. Whether you’re a sole trader, employer or employee. Stay up to date with the latest news – including government support, tax implications, and more.