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Health and Social Care Levy scrapped

During the mini-budget on 23 September 2022 the Chancellor, Kwasi Kwarteng announced that he was scrapping the Health and Social Care Levy being paid through National Insurance contributions.

With effect from 6 November the rates for National Insurance will be cut by 1.25% for both employers, employees and the self-employed.

HMRC has previously asked employers to include a generic message on payslips for the 2022-23 tax year to explain the reason for the change to their National Insurance.  This message will not be applicable from 6 November 2022 and employers are urged to make sure that the message does not appear.

If you use payroll software your developers will have been asked to update their software to remove the Health and Social Care levy rates in time for the change.  Make sure you update your software when your developers send through a change as HMRC will direct any employees direct to their employers to correct any overpaid NICs.

Seamount Payroll have already updated their systems ready which means our clients don’t have to worry.

If you would like help with your payroll please contact us for a free, no obligation chat.

 

Do you want to know how we can help you?

We would be happy to discuss your requirements and put the most appropriate package together for you.

 

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Seamount is a trading name of Seamount Business Services Limited
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Registered address: Gryson House, The Grove, Pontllanfraith, Wales, NP12 2EQ

 
 

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Adam Hiscock is licensed and regulated by AAT under licence number 1001350.

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