Are you ready for the new tax year? Simon Parsons shares what payroll professionals need to know
Every April 6th when the new tax year rolls around, payroll professionals must consider whether the legislative changes announced will affect their business—and what they should do to respond. That’s not always an easy task, but SD Worx is here to help, because we believe in Customer Intimacy. Crafting intimate, long-lasting relationships with our customers relies on hearing what they need and helping them cut through the complexity of legislation.
Earlier this month, we hosted a webinar with Simon Parsons, Director of UK Compliance Strategies at SD Worx and regular guest on Payroll Question Time, our monthly guide to legislation updates. A pillar of the UK payroll community, Simon is a member of several government consultation groups and panels addressing payroll policy. So, there’s no one better to explain how the new tax year could affect payroll professionals.
During the session, Simon touched on a variety of topics, including:
- Income tax bandwidths and rates: what’s changing in Scotland vs. the UK and Northern Ireland?
- Increases to National Insurance contributions as a result of the Health & Social Care Levy. Could this make salary sacrifice schemes more attractive to some employees?
- Changes to National Minimum Wage: find out how these affect Statutory Maternity Pay calculations
- Changes to Statutory Parental Leave and Statutory Sick Pay
- The threshold for student loan repayments has been frozen: will more of your workforce be asked to pay?