Payroll Newsletter - March 2021

MHA Monahans Payroll Newsletter March 2021

In this edition we look at your statutory changes regarding National Living Wage, new rules for the Employment Allowance, details regarding new tax rates and thresholds from April, together with other changes to legislation.

  • CJRS: The Scheme has been extended to the End of September 2021 (Please remember Claims now have strict deadlines and need to be in by the 15th of the following month). For periods starting on or after 1 May 2021, you can claim for employees who were employed on 2 March 2021, as long as you have made a PAYE Real Time Information (RTI) submission to HMRC between 20 March 2020 and 2 March 2021, notifying a payment of earnings for that employee. You do not need to have previously claimed for an employee before the 2 March 2021 to claim for periods starting on or after 1 May 2021
  • Employees will continue to receive 80% of their wages until the scheme ends, but firms will be asked to contribute 10% in July and 20% in August and September as the scheme is gradually phased out.
  • The Chancellor also confirmed the self-employment income support scheme has also been extended. The fourth grant will cover February to April, worth 80% of average trading profits up to £7,500.

Read all the updates in our latest Payroll Newsletter.

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