Month: November 2018

Auto- enrolment: Different types of workers

Type of employee for auto-enrollment

Auto- enrollment: Different types of workers

Restaurant trade has a high turnover of staff. Every month while doing payroll I come to the question about different types of worker in auto-enrollment. I cannot seem to remember and have to google it. I thought better to put a simple guide on my own website to look it up when I need it next time. I was searching for it over the internet and found the beautiful exhibit below prepared by the Pension regulator.

 

Restaurant-trade-autoenrolment

 

It reminds me of an old saying – good artists copy, great artists steal!

 

Source:
Pension regulator

Key Budget 2018 Highlights for Restaurant Trade

A summary of key changes.

  • Minimum wage: From April 2019 the National Living Wage will increase from £7.83 an hour to £8.21. An increase of 38 pence, an above inflating increase of 5%.

 

  • Personal Allowance will rise from 11,850 to £12,500 from April 2019 and will remain the same in 2020.

 

  • Higher Rate Threshold will increase from £46,350 to £50,000 in April 2019

 

  • Duty on beer, cider and spirits remains frozen.

 

  • Annual Investment Allowance will increase from £200k to £1 million from 1 January 2019 and will remain at this level till 31 December 2020.

 

  • New Capital allowance (Structure and building allowance): Relief will be provided on eligible original construction costs incurred on or after 29 October 2018, at an annual rate of two percent (flat rate) on a straight-line basis off their profits before they pay tax.

 

  • Business rates: Business rates will be cut by a third for two years for shops, pubs, restaurants and cafes in England with a rateable value of £51,000 and under.

 

 

Other interesting points:

  • 2% digital services tax on large digital firms

From April 2020, large social media platforms, search engines and online marketplaces will pay a 2% tax on the revenues they earn which are linked to UK users.

 

  • Non-resident landlord companies

From 6 April 2020, non-UK resident companies that carry on a UK property business, or have other UK property income, will be charged to Corporation Tax, rather than being charged to Income Tax as at present.

 

  • Annual Capital Gains allowance increases to £12,000 for individuals.

 

Source:

Budget 2018