Hastings accounting company help you out

We place enormous emphasis on our personal, yet professional approach, and have steadily built a loyal customer base, providing a service to over 100 local businesses.

Here are some important changes to legislation that will effect payments to employees over the next few years.

National Minimum Wage

From 1st October 2010 the rates have changed as follows:

For those aged 21 years and over – £5.93 per hour

For those aged 18-20 years - £4.92 per hour

For those aged 16-17 - £3.64 per hour

Apprentice Rate - £2.50 per hour

Pension Personal Accounts

From April 2012 the government is proposing that all employers contribute to their employees pension, if the employee also makes contributions.

Individuals over the age of 22 and earning a minimum amount, will be automatically enrolled in the company scheme, unless they opt out.

Contributions will be made up of 4% contribution from the employee, 3% from the employer and another 1% gained from tax relief. The amounts will be calculated between a band of earnings, similar to that of National Insurance.

This is another attempt by the government to target the estimated 7 million people in the UK who are not currently saving enough for their retirement, but will of course have an impact on businesses.

We are able to advise and manage this process for you, as part of your payroll service provision.

BACS Payments

It has now been over 2 years since we became a BACS Approved Bureau. This means we can handle making payments on our clients’ behalf direct to employee bank accounts. Over the past 2 years, we have successfully switched over several clients who were previously paying cash/cheques or who were spending a large amount of time on internet banking making individual payments. If you are interested in this service, please do not hesitate to contact us. It could you save you time and money!

If you have any queries regarding the above, please do not hesitate to contact Dominic on 01424 775155 or email [email protected]