Tax and NICs changes putting additional pressure on payroll teams

(2 minutes to read)

CloudPay: ‘Having already invested resources into planned increases in NI only to face a reversal of this in September, teams will now need to brace for the planned tax increases across the country’.

Payroll teams are being burdened with additional work and wasted hours in light of policy reversals, finds a new report.

According to Cloupay, with significant uncertainty still ahead, payroll professionals and accounting teams are going to need a flexible and global pay-system in order to reduce the need for manual calculations and payslip mistakes.

John Pearce, SVP Global Payroll Operations at CloudPay, explained, “With so much change across UK policy this year, payroll teams have faced a juggling act to keep up with the latest developments and subsequent repeals. Having already invested resources into planned increases in NI only to face a reversal of this in September, teams will now need to brace for the planned tax increases across the country.

“While this is certainly a less-than-ideal scenario, it does highlight the need for flexible pay processes that are under-pinned by technology and efficiency. Out-dated tech stacks that can’t be amended easily and quickly aren’t valuable during times of continued uncertainty.”

Thinking of appointing Dolan Accountancy?

Give us a call on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Email Jaime

Pearce added, “Payroll teams need systems that can pivot and evolve to accommodate sudden changes in requirements without the need for manual calculations, additional manpower or overtime hours – all of which have the potential to lead to payslip errors.

“This move towards greater flexibility in how people are paid – and how payroll professionals work – is a movement that has been picking up pace for some time and shouldn’t just be a consideration during times of uncertainty.

“In fact, we’re increasingly seeing a demand from global workforces to have greater autonomy in how they access their salary, which has driven demand for Earned Wage Access (EWA) solutions worldwide.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

You may also like to read

Recruitment sector feeling the pressure

With many businesses finding themselves short of talent and the UK hitting a record number of vacancies, the recruitment sector ...

Read More

Staff shortages ongoing challenge for both employers and staff

As many as 38% of UK employees are reporting that their workload is becoming ‘unmanageable’ due to staff shortages. According to ...

Read More

HMRC takes the pressure of self-assessment taxpayers

With many still suffering financially due to the pandemic, self-assessment taxpayers are being given extra time to complete and pay ...

Read More

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

dav1