On 6th April 2022 the employer’s national insurance rate increased to 15.05% from 13.8%. Employer’s NI is an additional tax liability payable by employers on the gross wages of their employees. For a company with 10 employees and an annual payroll bill of £300,000 this is an annual increase in costs to the employer of £3,750.
Thinking of redundancies? Need help to protect your business from an HR perspective for the future?
30 April 2020
Mark Friend
COVID-19, Payroll, People
One key lesson many clients will have learnt over the last few weeks is that your team is not only a great asset to your business but can also be a liability.
Some clients are looking to cut costs and the biggest cost for many of you is your team. The furlough scheme is great for the short-term but long term will you be able to take the team back? Will you have to make cuts or is this an opportunity to get rid of employees who have been historically a pain the proverbial?
The current climate is one where redundancies are understandable and getting the right advice is key.
Secondly, furloughing has been great but if the government hadn’t announced this what would you have done? Do you have a clause in your employment contract to reduce hours or lay staff off? Does your contract have restrictions on what your employees can do if they leave your employment such as approaching your customers, staff and suppliers?
Getting the right advice is essential and we have teamed up with AHR Consultants to provide HR services to our clients. Attached is a flier from AHR detailing their costings to help you over the next few months.
If you need more information on AHR please contact Mark Friend.
The content in this blog is correct as at 30/04/2020. See terms and conditions.
