The landscape of payroll management has transformed significantly in the last 15 years. Traditional methods of payroll processing, characterised by manual data entry, paperwork, and error-prone calculations, have become obsolete in today’s fast-paced business world. To enhance productivity, payroll...
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We all know that payroll management is an essential aspect of running a business, ensuring that employees are accurately paid as per their contractual agreement. However, it’s no secret that payroll processes can often turn into a source of...
Here at Excel Payroll Solutions, we understand that managing payroll is a critical aspect of running a business. It requires time, expertise, and attention to detail. We’re finding many businesses, no matter their size, are discovering the numerous advantages...
The Statutory Payment Rates for tax year 2023/2024 have been increased by 10.1%. Statutory Maternity Pay (SMP), Statutory Paternity Pay (SPP), Statutory Adoption Pay (SAP), Statutory Bereavement Pay (SPBP) and Shared Parental Pay (ShPP) will come into effect from...
1. Personal Allowance The income tax personal allowance of £12,570 will be frozen until 2028. This will mean that when employees earn more, they will pay more tax and could move to the higher tax band. 2. Reduction in...
Jeremy Hunt unveiled his Autumn Statement on 17th November 2022 in a plan to tackle cost-of-living crisis and to rebuild the economy. Both the National Minimum Wage and National Living Wage rates will be increasing, with the National Minimum...
Making Tax Digital (MTD) is the first phase of the move towards modernising the digital tax service for the 21st century. It is a crucial building block in the governments 10-year strategy, ‘Building a trusted, modern tax administration system’....
Jeremy Hunt, the newly appointed chancellor has dismantled the mini-budget set just a few weeks ago. The mini-budget was only announced on 23 September 2022 but caused financial turmoil in the market. He announced that the government will reverse...
There have been a growing number of fraudsters that are ‘cloning’ official telephone numbers to scam individuals and businesses out of money. The official income tax helpline for HMRC is one of the numbers that have been cloned and...
In a normal year England & Wales normally have 8 bank holidays, however 2022 has been slightly different year. We have had the celebration of the Queens Jubilee and then the Queens state funeral. It has caused some confusion...