The main rate of Class 1 employee National Insurance Contributions will be reduced to 10% from 6 January 2024 following the Chancellor’s Autumn Statement on 22 November.
While this is great news for employees, some employers might be worrying about how they will process the change in time.
Payroll software providers will be busy making the relevant changes to software with updates available and ready to run for weekly payrolls from week commencing 8 January 2024. The change will also be ready for monthly payrolls later that month.
Tracey can also provide you with a no-obligation quote for outsourcing your payroll processing giving you peace of mind and ensuring your staff are paid at the right rate and right time.