This coming April sees an increase for the first time since the Government introduced the Workplace Pensions regime whereby all employers have to provide a scheme for their workers.
As from 6 April 2018 the employer contribution rate rises to 2% and the employee contribution rate rises to 3%. This is a significant rise from the previous rates of 1% for both employer and employee. Employers should be aware of these rises and take steps to implement the changes into their payroll software. In addition they should consider notifying their employees in advance of the changes that are being made.
Here at Thomas Quinn we offer a payroll service which can take the burden off employers who do not wish to run their own payroll. Please contact us for more information.