Joshua Leigh & Co

What is RTI for Payroll?

Whether you employ one worker or one thousand, Real Time Information (RTI) for payroll helps businesses stay on top of compliance and ensures employees pay the correct amount of tax.

But despite launching in 2013, some businesses still do not fully understand how to use the RTI system – potentially resulting in fines and penalties.

In this blog, we’re going to explore the basics of RTI so your business can stay on the right side of the law.

What is Real Time Information? Read More

Now is the time to prepare details of your taxable benefits

The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.

On the horizon there is the all important P11D deadline looming, which may require some employers to report taxable benefits provided in the last year to HM Revenue & Customs (HMRC).

What is a P11D form?

The P11D (for income tax) and P11D(b) for Class 1A National Insurance Contributions) are used to report benefits provided to employees and expense payments by employers that are not included in the payroll process.  Read More

Workplace childcare vouchers – get the best out this scheme during COVID-19

As many employees began working from home during the height of the coronavirus pandemic, they used less paid childcare, as many before school clubs and nurseries were closed.  Read More

Plea for action to prevent “explosion” of fraud phone calls

Fraudsters are costing the UK economy up to £190 billion each year, research reveals. Read More

Are you looking to hire under the Kickstart Scheme?

With many younger people struggling to find employment due to the pandemic, the Government launched the Kickstart scheme to incentivise employers to take them on. Read More

Hiring an Apprentice

Hiring an apprentice is an effective way to develop talent and improve a motivated and qualified team. Plus, it enables companies to upskill their workforce.

According to research, nearly 90 per cent of employees said apprenticeships helped them develop skills relevant to their organisation.

What exactly is an apprentice?

Apprentices are usually aged 16 or over and work in a specific role while combining studying to obtain the necessary knowledge and skills for that job. An apprenticeship role, therefore, counts as staying in full-time education.

New or current employees can be an apprentice but, you must pay them at least the minimum wage, which may differ depending on their age and the amount of time they serve under their apprenticeship. Additionally, the role must meet the following criteria:

• Allow apprentices to learn with specific skills for the job
• Receive time for studying or training during their working week (at least 20 per cent of their working hours)
• Work with experienced employees.

How do I hire an apprentice?

The first step in hiring an apprentice is to look into what type of apprenticeship you want for your business or organisation.

The second step is to search for what funding is available for the cost of training to your organisation.

Thirdly, find an organisation that offers training for the apprenticeship you have chosen.

Then, you can start to advertise the apprenticeship, which can be done through the national recruit an apprentice service.

Once you have selected your apprentice, you need to make an apprenticeship agreement and commitment statement.

However, if you do not want to hire and train the apprentice yourself, you can use an apprenticeship training agency, which will employ and train the apprentice when they are not working in your organisation.

Depending on which level the apprentice is at, apprenticeships can last anywhere between a year to five years.

HMRC letters remind businesses of VAT payments change

Reminder letters are being sent out to tens of thousands of UK companies explaining changes in the Making Tax Digital (MTD) system and how it affects them. Read More

VAT: Cash vs Accrual Accounting

If your business is VAT-registered, or you are exploring the benefits of VAT registration, you must consider the different methods for accounting for VAT.