How to prepare and move into the 2018/2019 tax year!
In our latest Payroll video, Payroll Compliance Services Director, Tracey Simpson and Tax Consultant, Alex Gardner provide key hints and tips on how to move from the old tax year into the new tax year whilst simultaneously keeping your data clean and tidy.
With the new tax year, the new tax codes have been issued. This year we have seen an increase in personal allowance, changes to national minimum and living wage and changes to the pension contributions.
Within this video, we discuss
· Employee records and how to ensure that they are up to date
· Ghost employees and the issues that come with having these on your system
· National Insurance numbers and Director’s National Insurance
· How to keep HMRC up to date with any changes
· How employees can interact with HMRC such as dynamic coding and Personal Tax Accounts
· Payroll benefits in kind (PBIK)