As many of you know, there are legislation changes taking place in April that will affect your payroll. Some of you have even started calling us about it in fact. However, you need not panic – you can be assured that you don’t need to do a thing.
SmartPayroll will update everything automatically so you can sit back and essentially forget about it. It will be all taken care of.
For your information the changes occurring are:
The minimum employee and employer contributions will increase from 2% to 3%. This is effective for pay periods starting on or after 1/4/2013.
Student Loan repayments will also increase from 10% to 12%. This is effective for pay periods ending on or after 1/4/2013.
Tax codes ML, ML SL, and K will be removed effective for pay periods ending on or after 1/4/2013. If you have employees on these codes you won’t even need to change them as they will be replaced automatically with the correct tax code.
If you have any questions on how these changes will impact you or your business please call us on 0800 10 10 38 or you can email firstname.lastname@example.org.