UK Budget 2024: Impacts on Payroll, Employment Rights, and Tax Compliance #170
Join our expert payroll panel on Payroll Question Time as we explore the impact of UK Budget 2024 on Payroll and more.
Title: 🌟 UK Budget 2024: Impacts on Payroll, Employment Rights, and Tax Compliance #170 🌟
Host: 🎙️ Nick Day, CEO of specialist Payroll Recruitment Agency, JGA Recruitment Group
Episode Overview:
Payroll Question Time brought to you by The Payroll Podcast and SD Worx. Hosted by JGA Recruitment Group’s very own Nick Day, in this episode, our expert panel takes a deep dive into the latest payroll trends, compliance challenges, and strategic solutions, all while answering your burning questions live.
Key Topics Discussed in this Episode:
- UK Budget 2024 Impacts: New tax hikes, National Insurance changes, and minimum wage increases will significantly impact payroll costs, especially for small businesses.
- Employment Rights Bill 2024: Introducing guaranteed hours for zero-hour contracts, immediate SSP eligibility, and stricter wage law enforcement, raising compliance demands for employers.
- Minimum Wage Hikes: Large increases, particularly affecting industries with younger workforces like retail, add budgetary strain on businesses.
- Fair Work Agency Audits: Launching in 2026, this agency will enforce wage law compliance, increasing audit and penalty risks for employers.
- Salary Sacrifice and Pension Changes: Higher NI rates may lead employers to consider salary sacrifice schemes, impacting pension contributions and tax planning.
Useful Links From This Episode:
- 🌳 Greenify Talent: JGA Planet Positive (ESG) Recruitment Solution
- 👤 Host Nick Day LinkedIn Profile
- 📢 JGA Payroll Recruitment
- 🎧 Check out our sister podcast, The HR L&D Podcast
PAYROLL LEADERS – I CALL YOU ALL TO ACTION! 📢
🙏 Thank you for tuning in to The Payroll Podcast. Stay tuned for our next episode, where we continue to dive into the fascinating world of payroll! 🎧🌍
If you need the support of a payroll recruitment agency to help fill your next payroll vacancy, please please contact me! I possess over 20 years of payroll recruitment agency expertise and I would love to help! nick@jgarecruitmentinc.com or call 01727 800377
Find out more at: www.jgarecruitmentinc.com.
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