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BUDGET 2015

Posted on 24 March, 2015 at 0:15 Comments comments (3)

Basic Personal Allowance and Transferable Allowance for 2015/16

 

The personal allowance for those born after 5 April 1938 will be £10,600 for 2015/16. As a corollary, the transferable allowance for married couples and civil partners (10% of the personal allowance) will be £1,060. The higher rate threshold (i.e. the aggregate of the personal allowance and the basic rate limit) will be £42,385.


Abolition of the £8,500 T...

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Payroll - RTI

Posted on 16 May, 2014 at 11:20 Comments comments (0)

Preparing to operate PAYE in real time

From 6 April 2013 employers started reporting PAYE information to HM Revenue & Customs (HMRC) in real time. You may see this referred to as Real Time Information - or RTI.

This means that employers (or their accountant, bookkeeper or payroll bureau) have to:

• send details to HMRC every time they pay an employee, at the time they pay them

• use payroll softwa...

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