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Credit: Hyejin Kang/Shutterstock Need to know: Employers should start planning now for the P11D changes to the reporting and paying of tax and Class 1A national insurance contributions (NICs) on benefits in kind, to ensure a smooth transition to the new system in April 2026. appeared first on Employee Benefits.
There are also deductions to consider, such as variable deductions like student loan repayments, which can change month to month if linked to income, or fixed deductions for things like trade union subscription fees or season-ticket loan repayments. Some employers also top these payments up. Personal details. Pension payments.
The bill, currently under review, proposes a partial deduction rather than full exemption from overtime pay. All reports so far point towards a late 2025 or early 2026 timeline. An hourly employee earning $20 per hour would finally see their overtime pay jump from $30 per hour to a higher net take-homepay.
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