With the 5th of April now passing, we move in to a new tax year which means new tax and tax credit rates.
It is important for people to take a look at the new rates as most of us are affected and the following link shows all of the most popular tax rates for the new year.
It is also worth pointing out the government’s new scheme which will allow small employers to be exempt from paying the first £2,000 of their Employers National insurance contributions for 2014/15.
On the face of it this looks like it will benefit a lot of small businesses, however what has not been so heavily advertised is that from 6th April 2014 employers will no longer be able to recover Statutory Sick Pay (SSP) as they have always done in the past. This will become interesting for those employers who have people on long term sick who will now have to bear the full cost when employees are not able to work.