Efficient payroll keeps every dental practice running smoothly
With dental practices forced to close for a short period last year, and most having to modify employees’ schedules once they reopened, your payroll processes would have needed to be up to the challenge.
Suddenly, we all appreciated an efficient payroll as the glue binding everything together.
Furlough centre stage, with the biggest impact
It is likely that your practice was part of the furlough scheme when introduced in March 2020. Furlough put the resilience of payroll processes to the test, in an ever-changing landscape.
The scheme adapted, broadly, to the pandemic’s timeline. Originally due to end on 31 October, as the second wave took hold, the Chancellor announced that furlough would be extended to March 2021, with another extension to April 2021 announced a month later.
It wasn’t just furlough though…
There were a number of other new measures payroll had to contend with from the last tax year, including some you might have missed.
- From 6 April 2020, employment allowance (EA) for eligible businesses increased to £4,000 per year. From April 2021, EA can only be claimed if a business/charity has an employer’s NICs bill below £100,000 in the previous tax year.
- For company cars first registered at any time from 6 April 2020, tax rates are changing to encourage the use of low-emission or electric vehicles.
- From 6 April 2020, if you did make a redundancy payment, employers must pay Class 1A NICs on any part of a payment that exceeds the £30,000 threshold.
- Employees are now entitled to Statutory Parental Bereavement Pay (SPBP) upon meeting various criteria.
- Legislation for Off-Payroll working in the private sector (IR35) was pushed back to April 2021.
Wagemate is a specialist provider that will manage your payroll and let you get on with running your practice. Using an external provider will not just save you time, it will also save you stress, ensuring compliance with HMRC and that people are paid accurately and on time.
Whether your practice is large or small, payroll is central to successful operations. To get ahead, and to anticipate more changes in the future, consider outsourcing for peace of mind.
To better manage your payroll, contact payroll specialists Wagemate today,
tel: 03330 102102 or email firstname.lastname@example.org