Consider delaying end of October payroll to 6 November?
Employers may wish to consider negotiating with employees to delay the end of October payroll to 6 November to benefit from the 1.25% NIC reduction.
For a senior employee on £10,000 a month this would save £125 for both the employer and employee, or a lot more for some Premier League footballers. Cristiano Ronaldo is allegedly on £20 million a year so a delay to 6 November would save him and Manchester United £20,833!
This would of course impact on the employees’ ability to make bank payments such as mortgages and other direct debits scheduled to be made at the end of October or early November.
Please contact us if you wish to talk through your payroll options.