Employers can access regular HMRC guidance in regards to employees payments and payroll issues. Released last month, the Employer Bulletin clarifies a number of aspects, from apprenticeship rates to useful tools.

As we recently talked, in the digital era keeping informed and updated proves vital. Even more so, if you run a company hiring people, you want to be aware of changes with financial regulations. Then you will benefit from the knowledge rather than risk losses and penalties.

Tools aimed to help avoid taxes errors

In the recently released bulletin, HMRC introduces a number of software and toolkits available. Such is the PAYE Desktop Viewer, with recent updates implemented. The software allows companies to work with a large number of employees tax codes and notices. You can download the latest version here.

Also, business owners can access two important toolkits designed to avoid tax errors. While more relevant to the tax agents managing your finances, they can benefit you in understanding your taxes. These two can be accessed online:

• The National Insurance Contributions & Statutory Payments toolkit offers guidance in regards to named contributions and payments.
• The Expenses and benefits from employment toolkit informs on vehicles, travel, personal bills and the use or transfer of asset.

Minimum wage webinars and apprenticeships guidance

Remember how many companies in the UK failed to comply with minimum wage requirements?
In order to help employers avoid such mistakes, the Government department runs a number of webinars on National Minimum Wage matters. The first 3 episodes in each series clarify one specific error, and they last for under 10 minutes.

Also, HMRC informs that, according to data, nearly 20% of Level 2 and Level 3 apprentices do not get paid the minimum rate. To avoid the of risk falling under scrutiny, employers need to be aware of the different levels of payments.

Make sure you know what apprenticeship payment rates are for different categories

Refresh your knowledge on how you need to pay apprentices working within your company. Different minimum wage applies according to age and experience:

• Under 19, and in their first year of apprenticeship – £3.70/hr
• 19-20, and first year of apprenticeship completed – £5.90/hr.
• 21-24, and first year of apprenticeship completed – £7.38/hr.
• 25+, and first year of apprenticeship completed – £7.83/hr.

Even if a professional accountant, such as ourselves, helps you manage your taxes and payment matters, it helps if you understand the process and what to expect.