Employing someone for the first time: a tax and accounting perspective – Thursday 15th October 2015

There are many things to think about when you are employing people for the first time. If you don’t have a full understanding of the requirements this could result in penalties and interest.

Hart Shaw Chartered Accountants in association with Business Sheffield are delivering a workshop which will highlight the main questions that a business needs to ask itself when employing people for the first time such as:

• When do I need to tell HMRC I am employing people
• What do I have to tell HMRC
• What are my ongoing reporting requirements
• Do I need an accountant to prepare my payroll
• How do I pay my staff
• What is the national minimum wage
• Can I pay my employees expenses and benefits
• What is Real Time Information
• What is Auto enrolment

This event will be delivered by Carla Davis, Tax Manager & VAT Adviser and Aaron Alcock, Independent Financial Adviser of Hart Shaw Chartered Accountants.

Full details are:

• Date: Thursday 15th October 2015
• Time: 1:00pm to 3:00pm
• Venue: Business Sheffield, 11 Broad Street West, Sheffield, S1 2BQ

To confirm your attendance please contact the Business Gateway Team at Business Sheffield on T: 0114 224 5000 or email: businesssheffield@Sheffield.gov.uk.

 

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Employers reminded about National Minimum Wage changes

Employers should be reminded that changes to the National Minimum Wage have now come into force.

From 1 October, the main adult rate for those over the age of 20 increased by 11p to £6.19 per hour, while the hourly rate for apprentices has risen by 5p to £2.65.

There is no change to the rate for 18 to 20-year-olds of £4.98 per hour, and the £3.68 hourly rate for 16 to 17-year-olds.

The onus is on the employer to ensure they are aware of these changes and adjust their payroll accordingly.

However, running your own payroll can place a significant burden on smaller employers whose time could be put to better use in other areas of their business. If you are struggling to manage your payroll then it may be worth outsourcing this function to a dedicated payroll bureau or your accountant, leaving you free to focus on running your business.

For further information, please contact Steve Vickers, Tax Partner at Hart Shaw on T: 0114 251 8850 or email: steve.vickers@hartshaw.co.uk.

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