News from MBS Payroll & Accountancy Services

New legislative changes to payroll
From 1 October 2008 - Increase to National Minimum wage hourly rates

• Adult rate aged 22 and over will increase to £5.73
• Development rate for 18-21 year olds will increase to £4.77
• Development rate for 16-17 year olds will increase to £3.53

With effect from 6 April 2009:

• New automatic penalties will apply to employees who do not comply with National Minimum Wage rates

• Changes to personal allowance - new free pay threshold of £6,475 Emergency Tax Code is 647L

New statutory Sick Pay (SSP rate)

• Increased to £79.15 per week

New Statutory Maternity Pay (SMP) rate, Statutory Paternity Pay (SPP) rate and Statutory Adoption Pay (SAP) rate:

• all increased to £123.06 per week with effect from 6 April 2009

On-line filing of starter and leaver information (P45s and P46s) is mandatory with effect from 6 April 2009 for employers with 50 or more employees.

• Employers with fewer than 50 employees will have to send these forms on- line from 6 April 2011.
• All Annual Returns must be filed on-line for 2009/10

New minimum holiday entitlements

• Employees working a 5 day week will be entitled to 28 days.  It is up to employers to decide if bank holidays are included in this statutory minimum.

February 2008

• New Web Site Launched – Speaking about the launch of the new MBS Payroll web site Kevin Hailstone said "This is an exciting step for our business and we are looking forward to expanding our business further over the next year"

October 2007

• Name changed from Malton Business Services to MBS Payroll and Accountancy Services

April 2007

• Introduction of the New Construction Industry Scheme (CIS).  We are able to provide expertise and help in running the scheme on behalf of companies.

September 2006

• We moved from Malton to new premises near Scarborough in order to expand our office and team.