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Payroll & Pension Changes - April 2018

Payroll & Pension Changes - April 2018
Thursday, March 29, 2018

There are a couple of important changes coming into effect from April 2018 which we want to make sure you are aware of:

      1. Pension contributions increase

The minimum employer contribution is increasing from 1% to 2% and the minimum employee contribution is increasing from 1% to 3% from April 2018.

      2. National Minimum Wage and National Living Wage rates change

£7.83 for those aged 25 years and over

£7.38 for those 21 to 24

£5.90 for those 18 to 20

£4.20 under 18’s

£3.70 Apprentice under 19 (or over 19 and in the first year of their apprenticeship)

More information can be found at:  https://www.gov.uk/national-minimum-wage-rates

If we are running your payroll and administering your pension scheme there’s no need to worry as we will automatically apply these changes to your payroll when they are run in April.

Moving to Panthera is easy

It’s a big decision to move accountants. We get it. That’s why we have a clearly defined process in place to make it as straightforward as possible.

Step 1: We have a short initial discovery meeting to understand your needs so we can create the perfect service package for your business

Step 2: You receive your tailored proposal with one simple monthly fee and you e-sign the letter of engagement

Step 3: You provide your current accountant with notice – and you leave the rest to us!

We liaise directly with your previous accountant regarding the transfer of information. We request authority from HMRC to act on your behalf. We handle as much of the admin as possible, so you can get on with running your business – safe in the knowledge that everything is going on in the background. And if there’s any action for you, we let you know.

Contact us to find out how we can help you

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