Cintra HR & Payroll Services’ Post

Our practical approach allows you to pay insurance premiums based on actual payroll numbers, eliminating the need for estimates and hefty deposits. With no down payment required, you can establish workers' comp coverage hassle-free. #WorkersCompensation #SmallBusiness #CashFlow #FinancialStability #PayrollVault

Mandatory Payrolling of Employer-Provided Benefits from 2026 HMRC has announced that starting April 2026, payrolling benefits and paying Class 1A National Insurance Contributions (NIC) on Benefits in Kind (BIK) via payroll will become mandatory. This aims to reduce administrative burdens by digitising the reporting and tax payment processes for employment benefits, eliminating the need for four million P11D returns and P11D(b) forms. This change will simplify the process for employers, who currently need to report Class 1A NIC separately. The ICAEW hopes the government will engage with stakeholders to streamline BIK calculations before the mandate takes effect. Draft legislation is expected later this year, and comprehensive software development is crucial for smooth implementation. For more details, read our full blog post here: [link to blog] #Payroll #HMRC #BenefitsInKind #NationalInsurance #TaxCompliance

Revolutionize Your Business Finances in 2024: Cut your workers compensation costs by 30%, save an average of $500 in payroll tax savings per full time W2 employee and increase your savings by enrolling in a government  reimbursement program designed to assist Business Owners! If you have 2 or more full time W2 employees, you are ALREADY QUALIFIED, YOU JUST NEED TO BE ENROLLED!  Schedule a call with our enrollment team TODAY and start saving money in as little as 45 days. #IncreaseSavings2024 #BusinessSolutions #StrategicSavings #GovernmentReimbursement #CostSavings #WokersCompensation #EmployeeBenefits #PayrollOptimization #CorporateWellness #SavingsIn45Days #SmartFinance #WorkplacePerks #TaxRelief #FundingTheDream

You might know the “payroll tax” better by one of its official names (like the Employer Health Tax or the Health Services Fund, to name a couple). Whatever name it goes by in your jurisdiction – if you operate in one of the five provinces that have it! – like all elements of payroll legislation, compliance is critical. That’s why we’ve consolidated information to help guide you (and outlined how we can help): “Payroll tax” provincial legislation details: the rates, exemptions, & how to make it all a breeze https://hubs.ly/Q02Fjy2f0. #Payroll #PayrollManagement #PayrollAccounting #WorkforceManagement #HR #HumanResources #BC #MB #ONT #QC #NFLD #NL

If you are lucky enough to be getting a bonus this month, have you considered deferring it to the 6th of January to benefit from the 2% cut in National Insurance contributions? The chancellor announced the 2% reduction in the autumn budget last month and it has led to many employees asking to defer their bonuses to the 6th of January which is when the reductions kicks in. BUT you may have to wait a little longer. Software developers and employers have had little time to update their software for the new rates, and testing this and running a payroll submission within a few days of getting back to work in January might be a big ask. #bonus #payroll #nic

📢 UK Spring Budget Announcement 2024 - National Insurance Cut to 8% In a positive step for employees, the Chancellor has announced a reduction in National Insurance contributions from 10% to 8%, effective from April 2024. This follows the Autumn Statements' reduction of NI from 12% to 10%. At CR Payroll, we're dedicated to keeping you informed and ensuring a seamless transition as these changes come into effect. Our team is here to answer any questions you may have and provide the support you need. 📅 Key Dates for Payroll: April 2024: Implementation of the new 8% National Insurance rate. #CRPayroll #UKBudget #PayrollChanges #NationalInsurance #SpringBudget #Compliance #HR #PayrollManagement

The government's decision to mandate the payrolling of benefits in kind (BiK) from April 2026 is a significant change for UK employers and employees. One that I am personally very happy about! (Pre-Paperless P11d trauma…😅) Although this change will inevitably bring challenge to the payroll industry and many others, I think overall it’s a great move. For Employers- No more P11ds! Plus streamlined reporting and tax collection directly through payroll software. For Employees- No more end-of-year surprises! BiK taxes will be deducted directly from your monthly pay and also a clearer understanding of what your chosen benefits are costing you in real-time. I'm sure there will be points over the next two years where I will be wishing P11d's back, but for now I am going to enjoy the idea of a fully functioning, fully digitized, HMRC supported benefits system through payroll. That's not too much to ask? Right?! Mazars in the UK Jennifer Brown Grace Cornock Tara Bobmanuel MCIPPdip Gemma Wood MCIPPdip Sam Clements #payroll #bepayroll #benefits #BiK #HMRC

Staying up-to-date with the Employment Allowance can significantly reduce your National Insurance contributions bill 📉. It's not just about paying employees, it's about being savvy too. Need help navigating payroll? Visit our website. #PayrollSolutions 👉🏻 mensis.co.uk

🎉  Important Updates on National Insurance Contributions for New Financial Year – as of 6th of April 2024 For Employees: National Insurance (NI) rates Class 1 are now reduced to 8% for relevant threshold. For the Self-Employed: The compulsory Class 2 contributions have been abolished. Class 2 contributions are frozen at a flat rate of £3.45. Class 4 contributions are reduced to 6%. With PayExact you do not have to worry about your payroll or self assessment. We make financial processes easy and exactly right! Contact Us to see if we can help. Discover how we can assist you by visiting www.payexact.co.uk. #UKPayroll #UKOutsourcedPayroll #PayrollUK #PayrollProviderUK

This year the government announced various changes to support its ambition to simplify and modernise the tax system. One of which was payrolling benefits. The reporting and paying of Income Tax and Class 1A National Insurance Contributions (NICs) on benefits in kind via payroll software will be mandatory from April 2026. The new measure will reduce the administrative burden on employers but will need to be factored into payroll procedure. We know that dealing with payroll can be complex and when changes are introduced, it can be difficult to stay up to date on processes. Our payroll experts can provide support to help you manage and stay on top of your arrangements. #payroll #tax