Rain’s Post

📢 🇬🇧 𝗨𝗞 𝗕𝘂𝗱𝗴𝗲𝘁 𝟮𝟬𝟮𝟰: 𝗕𝗶𝗴 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗳𝗼𝗿 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗿𝘀! 🇬🇧 🔷 Higher Employer Costs: NICs rising to 15%, impacting budgets. 🔶 Employment Allowance Doubled: Relief for SMEs up to £10,500. 🔷 National Living Wage Increase: Up to £12.21/hour from April 2025. 🔶 Mandatory Payrolling of Benefits: New compliance from April 2026. 🔷 Non-Dom Tax Status Reforms: Potential impact on global talent attraction. 👇 Check out the infographic below! #GlobalEmployment #Payroll #Compliance #TaxPlanning #TalentAcquisition #UnitedKingdom

The Ministry of Human Resources reported that over 900,000 companies have received guarantees, with 88% of private companies fulfilling commitments by 2024. Additionally, wages have been paid to over 8.5 million employees across the Kingdom. Read: https://lnkd.in/dadhD5mh #HumanResources #EconomicGrowth #Commitment2024 #WorkforceSupport #BusinessDevelopment #SaudiVision HumanOnline

🇬🇧 | Is the UK labor market in worse shape than official data suggests? 📉 HMRC payroll data shows falling private sector employment, contradicting ONS figures. Can the BoE's upbeat 2024 forecast really hold up? #UKJobs #Economy More at: https://lnkd.in/dGy2zHa5

🚨 Latest EPFO Update Alert! 🚨 Are you aware of the recent changes in the Electronic Challan cum Return (ECR) process by EPFO? 📊 This update is crucial for both employers and employees, especially for contributions above the statutory wage ceiling. 🔍 In this video, we cover: - The new Joint Request for EPF contributions above the wage ceiling - Employer's responsibility to pay administrative charges - What this means for payroll, compliance, and statutory obligations Stay informed and ensure you're up-to-date with these important changes! Click the link below to watch the full video and get all the details: 🎥 Watch Now : https://lnkd.in/gNEUV9BY For more updates and tips, follow us on: YouTube Channel: https://lnkd.in/gEqnGkm Telegram Channel : https://lnkd.in/gjQrMsC8 Facebook : https://lnkd.in/gSwTHwFf Instagram : https://lnkd.in/gA6_xmPa Twitter : https://lnkd.in/g7YWsbnA #EPFOUpdate #ECR #StatutoryCompliance #EPF #PayrollUpdates #EmployerAlert #EmployeeBenefits #StatutorySolution #HRNews #ProvidentFund #ComplianceUpdate

Employer NI hike will hit wages, admits Chancellor Chancellor Rachel Reeves was forced to defend the decision to increase employer’s national insurance to 15% Doing the media rounds after her first Budget, Chancellor Rachel Reeves said: ‘It will mean that businesses will have to absorb some of this through profits and it is likely to mean that wage increases might be slightly less than they otherwise would have been.’ The decision to increase NI on employers not employees, reflected Labour’s manifesto commitment, on Channel 4 News Reeves stressed. ‘The alternative was increasing income tax and national insurance directly on working people.’ From next April, employers will have to pay NI at 15% on salaries above £5,000, instead of 13.8% on salaries above £9,100 currently. #Business #Minimumwagerates #Minimumwage #BusinessRates #Payroll #NationalInsurance #RachelReeves #ChancellorRachelReeves #Employers #Labour #Budget

Employer NI hike will hit wages, admits Chancellor Chancellor Rachel Reeves was forced to defend the decision to increase employer’s national insurance to 15% Doing the media rounds after her first Budget, Chancellor Rachel Reeves said: ‘It will mean that businesses will have to absorb some of this through profits and it is likely to mean that wage increases might be slightly less than they otherwise would have been.’ The decision to increase NI on employers not employees, reflected Labour’s manifesto commitment, on Channel 4 News Reeves stressed. ‘The alternative was increasing income tax and national insurance directly on working people.’ From next April, employers will have to pay NI at 15% on salaries above £5,000, instead of 13.8% on salaries above £9,100 currently. #Business #Minimumwagerates #Minimumwage #BusinessRates #Payroll #NationalInsurance #RachelReeves #ChancellorRachelReeves #Employers #Labour #Budget

Some key points here from the budget! 1. Employers NI threshold reduced from £175 p/w to £96.15 p/w i.e. the rate at which employers start deducting ERS NI begins sooner. 2. Employers NI will increase from 13.8% to 15%, as a result the minimum rate umbrella companies charge recruitment agencies will increase, also internal payroll costs (agency PAYE) will also increase. 3. National Minimum Wage will increase from £11.44 to £12.21 for workers aged 21 or over. 4. HMRC will clamp down on the use of 'dodgy' umbrella companies and crucially pass the tax responsibility over to the recruitment agencies who engage with these schemes. Scheduled to come into play from April 2026. #payroll #budget #April26

Looking for a benefit that employees value and actually use? Earned Wage Access (EWA) allows employees to access their earned wages when they need them most—without stress or high-cost loans. It’s a game-changer for recruitment, retention, and productivity. Find out how to implement EWA with confidence: https://lnkd.in/gDCU_a_7 #EarnedWageAccess #EmployeeBenefits #FinancialWellness #OnDemandPay #HRLeadership #PayrollSolutions #EmployeeEngagement #WorkplaceWellbeing #HumanResources #CHRO #CEO

𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐍𝐢𝐠𝐞𝐫𝐢𝐚 𝐋𝐚𝐛𝐨𝐮𝐫 𝐀𝐜𝐭 (𝟐𝟎𝟎𝟒), 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 𝐚𝐫𝐞 𝐧𝐨𝐭 𝐚𝐥𝐥𝐨𝐰𝐞𝐝 𝐭𝐨 𝐰𝐢𝐭𝐡𝐡𝐨𝐥𝐝 𝐚𝐧 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞'𝐬 𝐰𝐚𝐠𝐞𝐬 Employers are only allowed to deduct from an employee's wages for the following reasons : - If an employer mistakenly overpays an employee, the excess can only be deducted within three months from the date of overpayment. - Deductions for pension funds and other schemes or trade union contributions (if the employee is a member) as agreed by the employee and supported by the State Authority. - If an employer has prior written consent, they can deduct from an employee's wages for other reasons. If an employer withholds an employee's salary, the employee can report the employer to the Ministry of Labour and Productivity or seek legal action

The recent updates in the UK government’s Autumn Budget 2024 introduce significant changes aimed at supporting workers and businesses: 💠One key change is the increase in Employers' National Insurance contributions, which will rise from 13.8% to 15%. This change is part of a larger strategy to improve funding for public services. 💠National Minimum Wage has been raised to £12.21 for full-time workers aged over 20. This increase ensures that workers receive fair payment for their labour. 💠 Employment Allowance has been increased to £10,500. This change is designed to help small businesses, giving them the support to hire new employees and invest in growth. For more information on these changes and what they mean for you, contact Binks Overseas today www.binksoverseas.com #taxchanges #Autumnbudget2024 #ukgovernment #Payroll #Payments #GlobalPayroll #GlobalEmployment #VISA #Seafarerjobs #Offshorepayroll #worldwidepayroll #immigrationsupport #financejobs #bookkeeping #employerofrecord #immigration #contractorpayroll