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A PROACTIVE APPROACH TO PAYROLL AND BENEFITS
Employment status is not a matter of choice it depends upon the terms and conditions of the engagement. It is important to correctly decide the status of employment – employed or self-employed as an independent contractor. It is the employers’ responsibility to determine the status of its workers and this status will determine who has responsibility for the charge of tax on income and also the class of NI contributions which are to be paid.
When deciding whether a staff member has employed status or is self employed consideration should be given to whether the person works under a contract of service or a contract for services. Whatever the relationship is called between the worker and employer this has no relevance to employment status.
Every Cloud can assist you to operate your payroll, whether by taking on full responsibility for the calculation of tax and NI, advice on calculating payments for maternity, paternity etc. or assistance in completing the raft of end of year returns including benefits in kind.
As we all know, recruiting the right skills for the business can be competitive. Our employees look to more than the pay packet and holiday allowance expecting the addition of health cover benefits and enhanced statutory payments.
The managing of these can become time consuming and expensive. Every Cloud use trusted brokers to assist us in getting the best value for our clients and their staff.
With pension reforms imminent, businesses should be planning ahead for the impact that these changes will have upon their businesses.
With auto-enrolment due to be introduced in October 2012 are you aware of your responsibilities?
Auto enrolment means that your employees will be automatically enrolled into the Company’s qualifying pension’s scheme without making any conscious decision on their part, although they will be able to opt out. It is hoped that this will encourage people to save towards their retirement as many people at present have little or no plans for their future and fail to take up either the taxable benefits of saving into a pension scheme or the extra contributions that many employers offer.
uties for individual employers will be introduced gradually depending on the size of employer.
As an employer you will be able to choose the qualifying scheme you use but it will need to meet minimum standards in respect of contributions paid in and benefits it provides.
Every Cloud can guide you through the rules surrounding auto-enrolment and assist you to manage your Company scheme. Why not call us to discuss your needs?