Matt Fryer’s Post

What does the new Employment Rights Bill (ERB) mean for you? Hiring Managers / Contractors - -----------------   𝐊𝐞𝐲 𝐂𝐡𝐚𝐧𝐠𝐞𝐬:   Zero-hour contracts: Stricter regulations to protect workers' rights and provide more stability. Unfair dismissal: Protection from day one, with a probationary period. Statutory sick pay: Expanded eligibility and benefits. Flexible working: Becomes the default, unless employers can justify otherwise. Parental and bereavement leave: Increased entitlements and reduced qualifying periods. Fire and rehire: Banned, with compensation for affected workers. National Insurance increase: There is potential for the rate of national insurance paid by employers to be increased. -----------------   𝐈𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐇𝐢𝐫𝐢𝐧𝐠 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐨𝐫𝐬: Update policies and procedures: Ensure your workplace practices align with the new legislation. Revise contract terms: Review and update contracts to reflect the changes. Training and awareness: Educate your team about the new rights and responsibilities. Recruitment strategies: Consider how these changes may impact your talent acquisition efforts. Inside IR35:  As Inside IR35 contractors pay the hirer’s employment taxes, it is likely that the National Insurance increases will impact you too. Consider increasing your rates if/when this comes into play. -----------------   𝐖𝐡𝐞𝐧 𝐰𝐢𝐥𝐥 𝐭𝐡𝐢𝐬 𝐡𝐚𝐩𝐩𝐞𝐧 (𝐢𝐟 𝐚𝐭 𝐚𝐥𝐥)? It’s unlikely most of these changes will be introduced before 2026 though consultations will begin in 2025. -----------------  Get in touch to discuss how these changes may affect your organisation.   #EmploymentRightsBill #UKEmploymentLaw 

The latest HMRC ERS Bulletin is published providing a timely reminder about annual UK employee share plan and employment-related securities compliance return reporting. Also a helpful confirmation regarding voluntary payrolling for tax collection re SAYE and confirmation of how the new statutory right to Carer’s Leave will be taken into account for EMI working time purposes. Have you updated your employment policies for the new Carer’s Leave? If not and you need help our employment team can assist. #ERS #SharePlans #EmployerCompliance https://lnkd.in/eZM5CYbe

Election 2024: The Contractor Election The manifestos are all out or have been briefed and leaked to the papers so extensively that we now have a decent understanding of what each Party will do. Continuing in our weekly series, this week we look at what each party have suggested they will do with regards to IR35 and contractors The Conservative Party The Conservative Party have been reluctant to tackle IR35 Reform, however for contractors and self-employed people their manifesto commitment to “cut taxes to support the self-employed by abolishing the main rate of self-employed National Insurance entirely by the end of the Parliament” will be a welcome addition. The Labour Party Labour have said they will introduce a bill "within 100 days" of an election to make major changes in the world of temporary staffing, gig working and contracting, as part of its "new deal for working people". These changes would include day one employment rights for all workers and an end to "bogus self-employment". Whilst there was no comment on specific IR35 reform, this change in law, many believe, could remove the need for IR35 all together, when people are given "single worker status" The Liberal Democrats The Liberal Democrats have committed to a review of the off-payroll working reforms, and a focus on ensuring "the self-employed are being treated fairly". In the manifesto, the Liberal Democrats will also today commit to tackling late payments, by requiring companies with more than 250 employees to sign up to the prompt payment code. So no more chasing your payments! The best of the rest Reform have been the most specific in its proposals for IR35 stating they would abolish IR35 rules. The rest have not been overly clear on any of their proposals around IR35 but hopefully we will hear more over the coming weeks (but once again, I would suggest this is not a key doorstep issue for the population at large) If you're looking for your next contract role or looking to supplement your team (or just want a general chat around cost, how it works and why you should consider it), please reach out to us to discuss our Professional Interim Consultant solution Dan@AuditandRiskRecruitment.com 07825 628544 Previous Posts: Election 2024: The Corporate Governance Reform Election https://lnkd.in/emPDThDm

Following HMRC’s announcement concerning the mandatory payrolling of benefits from April 2026, it is proposed that the payment of Class 1A National Insurance will be paid monthly, as opposed to annually on 19 July. 📝 Employers will need to plan for mandatory payrolling if they haven't already. Joanne Hennessy, Employment Tax Senior Manager, explains what employers can do to prepare for the upcoming changes here: https://bit.ly/3vMTkyk 👈 Get in touch with Jo for further information. #payrollingofbenefits #employmenttax #nationalinsurance #HMRC

As a business owner, do you know the differences between hiring a contractor and an employee? While they might seem similar, there are some big differences you must know to stay compliant with employment regulations. Take a look at this article from the IRS to find out more. https://lnkd.in/gp-yfMFW

As a business owner, do you know the differences between hiring a contractor and an employee? While they might seem similar, there are some big differences you must know to stay compliant with employment regulations. Take a look at this article from the IRS to find out more. https://lnkd.in/eRAfNsF

In May 2023 the Employment (Allocation of Tips) Act 2023 was given Royal Assent. On 1 October 2024 the Act will come into force via secondary legislation. Sarah Glockler and Phillipa Roblett consider the changes that will be made to tipping practices in the UK and its effect on employers. #servicecharge #employmentlaw #gratuities

How much do you know about Fringe Benefits Tax (FBT)? We have put together a series of articles addressing all things FBT, as we outline important issues and employees/contractors. Please see below for more details: #WalkerWaylandNSW #WWNSW #FBT2024 #employees

Today's question: What's the difference between a W2 employee and a 1099 contractor? For employers needing consistent hours and company adherence, hiring a W2 employee is your go-to. W2’s involve payroll taxes and benefits plus potentially higher costs. On the other hand, 1099 contractors handle their own taxes and benefits, often more cost-effective but be sure to comply with IRS rules to avoid penalties. For employees, being on a W2 generally means more job security and benefits like health insurance, while being a 1099 contractor offers more freedom and autonomy but requires managing one's own taxes and benefits. Do these differences impact your work preference or hiring decisions? Share your thoughts below!  #FinancialFacts #GoldenOakFS #W2vs1099

Among many things, speculation around employers’ NI brings IR35 into sharp focus. If employers’ NI rises, so does the cost of non-compliance under the off-payroll rules. This is because HMRC will issue firms a tax bill made up of missing employment taxes in the event a contractor has been wrongly engaged outside IR35. Along with highlighting the importance of compliance, it shines the spotlight on businesses that insist all genuinely self-employed contractors work on the payroll. The cost of engaging workers on the payroll could well increase, which begs the question: why are some businesses still taking this risk-averse approach to the off-payroll rules? #IR35 #employersNI #Budget #flexibleworking #contracting