Employment Taxes - Update and Refresher

Objectives

The webinar will look at all of the changes relevant to employment taxes and payroll services for the coming tax year.

Key topics

• National Insurance Class 1 – changes and points to watch for 2024/25
• Income tax and PAYE changes for the coming tax year
• Other payroll areas – Student loan deductions, National Minimum wage and others
• Administrative changes affecting those dealing with payroll
• Taxation of benefits and expense payments – changes and key danger points

Employment taxes and payroll processes

• NIC rates and limits
• The rate on earnings in excess of £50,270 remains 2%
• NIC category letters to use
• NI relief – employment of armed services veterans
• Tax thresholds and rates
• Scottish income tax rates – Budget proposals
• Welsh income tax rates – Budget proposals
• Rates of National Minimum wage and living wage
• Student loan thresholds 2024/25
• NI for Employees above state pension age
• Employment allowance
• Small companies: Directors’ salary rates
• Duplicate employments – advice on how to avoid this
• Pension contributions – payroll errors
• Variable direct debit for PAYE & NIC
• Time to pay arrangements for PAYE liabilities
• NIC rate change in January 2024
• Reporting salary advances through RTI
• P11D and P11D(b) – electronic only
• HMRC App for new employees
• Claims for employment expenses
• Employee addresses
• Updated guidance – payment of tips
• Latest version of PAYE Tools
• Abolition of payment booklet for PAYE payments
• Termination payments – change in practice
• Forward look

Benefits in kind and expense payment

• Benefit in kind tax on double cab pickups
• Very low emission cars
• 2025 to 2028
• Fuel in company cars
• Standard van and fuel benefit
• Beneficial loan rate
• Statutory mileage rates (AMAPs)
• Fuel only advisory rates – effective 1 March 2024
• Benefits in kind – pensions advice
• Household expenses – working from home
• Exemption for reimbursed expenses and related benefits
• Reimbursement at HMRC recommended rates
• Reimbursed charging costs for company electric cars
• Company car allowances – NI treatment
• Trivial benefits provided by an employer
• Future change – mandatory payrolling

Who should attend

Partners and staff who are involved in providing payroll services to clients or wish to update their knowledge of this area.