Public Service Pensions Consultation

In December 2018 the courts ruled that the transitional measures introduced during the 2015 public service pension scheme reforms directly discriminated against some younger pension scheme members.

A consultation was recently announced by HM Treasury to address this issue:

https://www.gov.uk/government/consultations/public-service-pension-schemes-consultation-changes-to-the-transitional-arrangements-to-the-2015-schemes

(more…)

Pensions Annual Allowance Charges -Budget 2020 Update

Posted: 04 April 2020

You may have heard from the budget on 11^th March that the government has decided to increase the annual allowance “threshold income” by £90,000 to £200,000 and that the “adjusted income” calculation has been similarly increased to £240,000. These will take effect in the 2020/21 tax year.

What does this mean?

This is all related to the tapering of the £40,000 annual allowance. The annual allowance is how much:

• you can contribute to a defined contribution scheme or,
• your defined benefit pension fund value can grow in the tax year,

before incurring a tax charge. (more…)

Auto-Enrolment spot checks – make sure you comply

The BH Payroll Bureau has learned that The Pensions Regulator (TPR) has begun employer spot checks across the UK. They will be targeting employers who they suspect are failing to comply with their workplace pension duties. (more…)

Bookkeeping for the 21st Century – Making the Most of Xero

Complimentary Workshop

Along with Cloud accounting software providers, Xero, we will be providing an introduction and further workshop for both existing cloud users and those interested in finding out more.

on:

Thursday 21st September 2017

(more…)

Auto Enrolment Changes

There is a forthcoming change to the way new employers staging dates occur.

Employing staff for the first time after 1 October 2017, legal duties for automatic enrolment begin on the day the first member of staff starts work.

Please see the below links for further details on how the staging dates work from now up to October 17, and please feel free to contact us if you have any further queries;

www.thepensionsregulator.gov.uk/en/employers/employing-staff-for-the-first-time.aspx

www.thepensionsregulator.gov.uk/en/employers/employing-someone-between-2-april-2017-and-30-september-2017.aspx