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	<title>General Archives - Codapay</title>
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	<description>Cutting-Edge Recruitment Industry Payroll Software</description>
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	<title>General Archives - Codapay</title>
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	<item>
		<title>Survey: Shape the future of Codapay and enter to win a £50 gift card</title>
		<link>https://www.codapay.co.uk/news/survey-2024-terms-and-conditions/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 28 Aug 2024 13:54:03 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=13546</guid>

					<description><![CDATA[<p>The survey and prize draw has now closed. The winner was randomly selected by Codatech and has been informed by [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/survey-2024-terms-and-conditions/">Survey: Shape the future of Codapay and enter to win a £50 gift card</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em>The survey and prize draw has now closed. The winner was randomly selected by Codatech and has been informed by email. </em></p>
<p>&#8212;</p>
<p>We’re on a mission to make back office processes easier than ever, and we need your help to make that happen.</p>
<p>The better we understand what matters to you, the more we can tailor our future improvements. And we’ve got some exciting ones coming!</p>
<p>Complete our latest market research survey and enter our prize draw to win a<strong> £50 Amazon gift card</strong>. It’ll take around 5-10 minutes. Ends 20<sup>th</sup> September.</p>
<h3><strong><a style="color: #00889d; text-decoration: underline;" href="https://www.surveymonkey.com/r/KT7DZNQ" target="_blank" rel="noopener">Start survey</a></strong></h3>
<p>Thank you to everyone who participates! Your insights will help us shape the future of Codapay.</p>
<p>Any issues accessing the survey? Please notify us at <a href="mailto:info@codatech.co.uk">info@codatech.co.uk</a>.</p>
<p>&nbsp;</p>
<h2><strong>Prize Draw Terms and Conditions</strong></h2>
<ol>
<li><strong>Eligibility</strong>: The prize draw is open to participants who complete our survey. Employees of Codatech, its affiliates, and immediate family members are not eligible to enter.</li>
<li><strong>Entry</strong>: To enter the prize draw, participants must complete the survey by 18:00 on 20th September 2024. Only one entry per person is allowed. Multiple entries from the same individual will be disqualified.</li>
<li><strong>Prize</strong>: One (1) £50 e-gift card will be awarded, shared <span class="ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak" dir="ltr"> with the email address used to enter the prize draw</span>. The prize is non-transferable and cannot be exchanged for cash or any other alternatives.</li>
<li><strong>Selection of Winner</strong>: The winner will be selected randomly from all eligible entries received. The draw will take place on 24th September.</li>
<li><strong>Notification of Winner</strong>: The winner will be notified by email within 7 days of the draw. If the winner does not respond within 14 days of being notified, we reserve the right to select an alternative winner.</li>
<li><strong>Data Protection</strong>:
<ul>
<li><strong>Data Collection</strong>: By entering the prize draw, participants consent to the collection and processing of their personal data (e.g., name, email address) for the purposes of administering the prize draw.</li>
<li><strong>Data Usage</strong>: Personal data will only be used for the purpose of this prize draw and will not be shared with third parties except as necessary for the administration of the prize draw.</li>
<li><strong>Data Retention</strong>: Personal data collected for the prize draw will be retained for 14 days after the draw has taken place, after which it will be securely deleted.</li>
<li><strong>Rights</strong>: Participants have the right to access, rectify, or delete their personal data at any time. Requests should be sent to <a href="mailto:info@codatech.co.uk">info@codatech.co.uk</a></li>
</ul>
</li>
<li><span class="ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak" dir="ltr">Codatech reserve the right to cancel the survey at any time.</span></li>
</ol>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/survey-2024-terms-and-conditions/">Survey: Shape the future of Codapay and enter to win a £50 gift card</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>UK payroll tax calendar and key tax dates 2024-25</title>
		<link>https://www.codapay.co.uk/news/tax-calendar-2024-25/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Mon, 05 Feb 2024 12:29:35 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=11928</guid>

					<description><![CDATA[<p>An uncertain economy meant the cost of living crisis continued in 2023. This has led to several measures coming into [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/tax-calendar-2024-25/">UK payroll tax calendar and key tax dates 2024-25</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>An uncertain economy meant the cost of living crisis continued in 2023. This has led to several measures coming into place that will impact pay for workers.</p>
<p>In this article, we’ve covered all the key changes coming into effect in the 2024-25 tax year. Plus, download our free tax calendar PDF.</p>
<p>&nbsp;</p>
<h2><strong>Download the 2024-25 tax calendar PDF</strong></h2>
<p><strong><a href="https://www.codapay.co.uk/storage/2024/02/Tax-calendar-2425xlsx.pdf" target="_blank" rel="noopener"><u>Click here</u></a></strong> to open and download the PDF. No details required!</p>
<p>&nbsp;</p>
<h2><strong>Key tax dates (April 2024 to April 2025)</strong></h2>
<p>We’ve already started seeing some key changes in early 2024. From 6 January, <strong><a href="https://www.gov.uk/government/publications/changes-to-national-insurance-contributions-from-6-january-2024/a-reduction-in-the-main-rates-of-primary-class-1-and-class-4-national-insurance-contributions-and-the-removal-of-the-requirement-to-pay-class-2-nation?utm_medium=email&amp;_hsmi=80059288&amp;_hsenc=p2ANqtz-9ZK8WmSUXTlCEDwCf82hTzt_enJPiHRyupKOcoB-0JULog0SBy31UFjsLdZqjVCpgsbgVFkPlnU55rUuSRaGPtSjmavw&amp;utm_content=80059288&amp;utm_source=hs_email#:~:text=National%20Insurance%20contributions.-,General%20description%20of%20the%20measure,10%25%20from%206%20January%202024" target="_blank" rel="noopener">Class 1 National Insurance contributions were reduced by 2 percentage points</a></strong>, from 12% to 10%.</p>
<p>As for the new tax year:</p>
<ul>
<li>From 1 April 2024, <strong><a href="https://www.gov.uk/national-minimum-wage-rates" target="_blank" rel="noopener">National Living Wage (NLW) and National Minimum Wage (NMW) will increase</a></strong>. NLW will be £11.44, while NMW for ages 18-20 will be £8.60 and £6.40 for ages 16-17 and apprentices.</li>
<li>From 6 April 2024, the main rate of employee <strong><a href="https://www.gov.uk/government/publications/spring-budget-2024-overview-of-tax-legislation-and-rates-ootlar/spring-budget-2024-overview-of-tax-legislation-and-rates-ootlar">National Insurance will reduce by 2 percentage points</a></strong> from 6 April 2024, dropping from 10% to 8% (down from 12% last year!).</li>
<li>From 6 April 2024, Class 4 National Insurance contributions will be <strong><a href="https://www.gov.uk/government/publications/spring-budget-2024-overview-of-tax-legislation-and-rates-ootlar/spring-budget-2024-overview-of-tax-legislation-and-rates-ootlar" target="_blank" rel="noopener">reduced by 3 percentage points</a></strong>, from 9% to 6%.</li>
<li>From 6 April 2024, the <strong><a href="https://www.gov.uk/government/publications/reduction-of-the-dividend-allowance/income-tax-reducing-the-dividend-allowance" target="_blank" rel="noopener">Dividend Allowance will reduce from £1,000 to £500</a></strong>. Tax rates on dividend income will remain the same.</li>
<li>From 6 April 2024, Scotland will introduce <a href="https://www.gov.uk/guidance/rates-and-thresholds-for-employers-2024-to-2025#tax-thresholds-rates-and-codes"><strong>an ‘Advanced’ tax rate at 45%</strong></a> for an individual’s income between £62,431 and £125,140. Other Scottish tax thresholds will change slightly too.</li>
<li>From 6 April 2024, the <strong><a href="https://www.gov.uk/government/news/postgraduate-income-contingent-student-loans-repayment-threshold-confirmed--2">repayment threshold for Postgraduate loans will be £21,000</a></strong>.</li>
<li>The income tax <strong><a href="https://www.gov.uk/government/publications/the-personal-allowance-and-basic-rate-limit-for-income-tax-and-certain-national-insurance-contributions-nics-thresholds-from-6-april-2026-to-5-apr/income-tax-personal-allowance-and-the-basic-rate-limit-and-certain-national-insurance-contributions-thresholds-from-6-april-2026-to-5-april-2028" target="_blank" rel="noopener">personal allowance remains frozen until April 2028</a></strong>.</li>
</ul>
<p>&nbsp;</p>
<h2>Previous tax calendars</h2>
<ul>
<li><a href="https://www.codapay.co.uk/news/tax-calendar-2023-24/"><strong>Tax year 2023-24</strong></a></li>
<li><strong><a href="https://www.codapay.co.uk/news/tax-calendar-2022-23/">Tax year 2022-23</a></strong></li>
<li><strong><a href="https://www.codapay.co.uk/news/tax-calendar-2021-22/">Tax year 2021-22</a></strong></li>
</ul>
<p>&nbsp;</p>
<p><em>Information included in this article may be subject to change. Please refer to the date of publication. We endeavour to keep an up-to-date reflection of changes during the 2024-25 tax year.</em></p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/tax-calendar-2024-25/">UK payroll tax calendar and key tax dates 2024-25</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>Checklist: Software you need to launch your recruitment start-up</title>
		<link>https://www.codapay.co.uk/news/checklist-software-you-need-to-launch-your-recruitment-start-up/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 27 Jul 2022 14:34:27 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=10689</guid>

					<description><![CDATA[<p>When it comes to starting your own recruitment business, there’s a lot to think about. In this fast-moving and competitive [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/checklist-software-you-need-to-launch-your-recruitment-start-up/">Checklist: Software you need to launch your recruitment start-up</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>When it comes to starting your own recruitment business, there’s a lot to think about. In this fast-moving and competitive industry, it’s crucial to get your tools right from the start. This way, you’ll be prepared when it comes to scaling and growing your client base down the line.</p>
<p>It’s important to look at the recruitment process from start to finish, so you can deliver the best possible level of service to candidates and clients.</p>
<p>So, we’ve put together this handy checklist to help you save time, stay organised and maximise your opportunities.</p>
<p><strong>Here’s what you need to consider when selecting recruitment software for your start-up:</strong></p>
<p>&nbsp;</p>
<h2>1. Staying organised and tracking the status of your projects</h2>
<p>If you have experience in the recruitment industry, you’ll be familiar with using an Applicant Tracking System (ATS), but starting up on your own presents a different set of challenges.</p>
<p>You&#8217;ll be managing multiple projects at different lifecycle stages, with potentially hundreds of CVs per project, as well as taking on the additional responsibilities that come with running a new business day-to-day.</p>
<p>There are many ATS options on the market, so ensure you go in with a clear set of requirements and do your research on review sites before committing. Consider:</p>
<ul>
<li>Do you need to factor in how you&#8217;ll collaborate with other team members using the system?</li>
<li>Will the system scale as you grow, and how does this impact pricing?</li>
<li>How robust is the reporting offered?</li>
<li>To what extent do you need to be able to customise workflows?</li>
<li>Are you looking for additional features, such as AI tools or support with producing a branded careers site?</li>
<li>Is it easy to use? Lots of additional features might be what you&#8217;re looking for, but make sure you don&#8217;t lose sight of usability and getting the basics right.</li>
<li>Does it integrate with any other recruitment software you intend to use?</li>
</ul>
<p>The list goes on, and will be personal to your needs and priorities.</p>
<p>&nbsp;</p>
<h2>2. How you&#8217;ll attract prospective candidates and clients</h2>
<p>It takes time to build your client and candidate base, which makes having a robust marketing and lead generation strategy essential.</p>
<p>You&#8217;ll need to consider:</p>
<ul>
<li>Ensuring your business is active on social media &#8211; especially LinkedIn, due to its focus on work and professional relationships. You may want to invest in social media management software, so you can work more efficiently by scheduling posts to multiple accounts from one place, in advance.</li>
<li>The software you&#8217;ll use to send email campaigns to your audience. If you&#8217;re not doing this via your ATS, ensure you choose a platform that integrates with it so that you can centralise your data. <a href="https://mailchimp.com/en-gb/" target="_blank" rel="noopener">Mailchimp</a> is a great, user-friendly place to start.</li>
<li>Looking the part. Consider investing in software that makes it easy to produce professional, branded contracts and offer letters that facilitate e-signatures.</li>
<li>How you&#8217;ll use content to build an audience. A great way to grow your following is to produce helpful, insightful, informative content. Whether you&#8217;re keeping people up-to-date on the latest news in your industry, or producing downloadable resources such as ebooks, use design software to ensure your content always looks professional.</li>
<li>Tracking the success of your efforts. If you have your own website, ensure you have <a href="https://marketingplatform.google.com/intl/en_uk/about/analytics/">Google Analytics</a> set up, so you can see where your traffic is coming from.</li>
</ul>
<p>&nbsp;</p>
<h2>3. Optimising your online presence</h2>
<p>When putting together your lead generation plans, always keep your goal pages in mind &#8211; they should match the messaging you use in your social media posts and email campaigns.</p>
<p>Decide which job boards you&#8217;ll focus on and ensure your website is up-to-date and ready to capture leads. You may want to look at integrating software that makes it easy to customise dynamic forms, add pop-ups, or even use chatbots.</p>
<p>&nbsp;</p>
<h2>4. Putting forward the strongest candidates</h2>
<p>You&#8217;ll build your reputation as a firm that clients can rely on by consistently sourcing exceptional candidates.</p>
<p>Often, the strongest candidates are passive candidates who are open to opportunities but not actively exploring them. Consider integrating a CRM (Customer &#8211; or in this case, Candidate &#8211; Relationship Management) system with your ATS to support your marketing efforts and help you nurture an audience of potential candidates.</p>
<p>Nail down your process for assessing and recommending candidates effectively. Some industry players are moving away from the traditional CV in favour of more dynamic approaches &#8211; you could explore using online personality tests, video platforms, virtual reality and more.</p>
<p>&nbsp;</p>
<h2>5. Managing and retaining the best talent for your own team</h2>
<p>In order to succeed, you&#8217;ll need to build a team around you that you can trust.</p>
<p>To ensure effective collaboration and ease of assigning tasks day-to-day, look at project management and internal communications software. And don&#8217;t forget to cover the basics, like where you&#8217;ll store shared internal files, particularly if your team are working remotely.</p>
<p>Last, but definitely not least, you need to ensure your team feel valued and appreciated for their hard work, whatever their role in your business. This means making time to focus on the things that matter, by cutting down on unnecessary admin and inefficiencies.</p>
<p>This is something Codapay can help you with. We provide <a href="https://www.codapay.co.uk/payroll-solutions/recruitment-agencies/">trusted payroll software for the recruitment industry</a>, with free and automatic updates to cater for changing legislation. Whether your worker engagement model is PAYE, umbrella, self-employed, CIS or LTD, it&#8217;s ideal for agencies with no time to waste. <strong><a href="https://www.codapay.co.uk/contact/">Book a free demo today</a>.</strong></p>
<p>&nbsp;</p>
<h2>Up next:</h2>
<ul>
<li><a href="https://www.codapay.co.uk/news/payroll-software-features-assessment/">Assessment: What payroll software features do I need?</a></li>
</ul>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/checklist-software-you-need-to-launch-your-recruitment-start-up/">Checklist: Software you need to launch your recruitment start-up</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>Explained: What is a Professional Employment Organisation (PEO)?</title>
		<link>https://www.codapay.co.uk/news/what-is-a-peo/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Tue, 17 May 2022 11:06:22 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=10558</guid>

					<description><![CDATA[<p>In the UK, a Professional Employment Organisation (PEO) is a relatively new PAYE option for contractors. PEOs are intermediaries that [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/what-is-a-peo/">Explained: What is a Professional Employment Organisation (PEO)?</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>In the UK, a Professional Employment Organisation (PEO) is a relatively new PAYE option for contractors. PEOs are intermediaries that allow the end client to outsource HR elements like payroll, benefits, and compliance. Simply put, it’s PAYE for a contractor and outsourced HR for agencies and clients.</p>
<p>The model is sometimes known as co-employment, as both the end client and the PEO employ the worker for different purposes. It’s a popular employment model in the United States as it allows employers to simplify the processes involved with hiring.</p>
<h2><strong>How does a PEO model work?</strong></h2>
<p>The PEO will hire the end client’s workers, becoming the contractor’s employer of record. The end client continues to employ the worker, but each party maintains different roles. The PEO is responsible for payroll and HR administrative tasks, like timesheets, holiday, pension, statutory payments and grievances, while the client manages the worker.</p>
<p><img loading="lazy" class="wp-image-10559 aligncenter" src="https://www.codapay.co.uk/storage/2022/05/PEO-1.png" alt="How a PEO works" width="538" height="538" srcset="https://www.codapay.co.uk/storage/2022/05/PEO-1.png 1080w, https://www.codapay.co.uk/storage/2022/05/PEO-1-300x300.png 300w, https://www.codapay.co.uk/storage/2022/05/PEO-1-1024x1024.png 1024w, https://www.codapay.co.uk/storage/2022/05/PEO-1-150x150.png 150w, https://www.codapay.co.uk/storage/2022/05/PEO-1-768x768.png 768w, https://www.codapay.co.uk/storage/2022/05/PEO-1-320x320.png 320w" sizes="(max-width: 538px) 100vw, 538px" /></p>
<p>This setup makes it ideal for small to medium businesses as HR is outsourced and managed by the PEO. A PEO simplifies payment for both the client and the worker while supporting the existing HR team. It also means employment responsibilities rest with the PEO.</p>
<p>Under a PEO, a worker will receive employee tax and National Insurance deductions from their gross pay – as well as other necessary deductions like student loan repayments.</p>
<p>There’s no fee for the service to the contractor – only the contractor’s agency. An advantage for agencies is that there is no VAT on payroll costs – it’s only payable on service fees.</p>
<h2><strong>How’s a PEO different to an umbrella company?</strong></h2>
<p>Both umbrella companies and PEOs offer outsourced HR and payroll, but they’re slightly different.</p>
<p>Workers under a PEO will be quoted with a fixed gross pay rate, and employer costs are agreed between the employer and agency. Umbrella companies are obliged to outline their deductions, but payslips can sometimes be trickier for contractors to interpret. However, with modern payroll solutions<u>,</u> this is usually no longer an issue.</p>
<p>An umbrella company will provide a pay rate to the contractor, agreed with the client or agency, with umbrella agency fees, taxes, and National Insurance deducted. Meanwhile, under a PEO, pay is agreed between the worker and client, and PEO fees are not charged to the contractor.</p>
<p>Find out more about <strong><a href="https://www.codapay.co.uk/news/what-is-an-umbrella-company-and-how-do-they-work/">what an umbrella company is and its benefits</a></strong>.</p>
<h2><strong>How is PEO impacted by IR35?</strong></h2>
<p>A PEO becomes the worker’s named employer of record, meaning they remain off payroll to the end client or agency. In other words, it’s unaffected by IR35, and the client can direct and control the worker without penalisation.</p>
<p><strong>Codapay is trusted payroll software for the recruitment industry, with free and automatic updates to cater for changing legislation. <a href="https://www.codapay.co.uk/contact/">Book a free demo</a> today.</strong></p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/what-is-a-peo/">Explained: What is a Professional Employment Organisation (PEO)?</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>Assessment: What payroll software features do I need?</title>
		<link>https://www.codapay.co.uk/news/payroll-software-features-assessment/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 20 Apr 2022 13:23:16 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=10441</guid>

					<description><![CDATA[<p>There are plenty of considerations when it comes to choosing new payroll software. We’ve covered this in great detail in [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/payroll-software-features-assessment/">Assessment: What payroll software features do I need?</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>There are plenty of considerations when it comes to choosing new payroll software.</p>
<p>We’ve covered this in great detail in <a href="https://www.codapay.co.uk/news/payroll-software-complete-guide/"><strong>our guide to payroll software</strong></a>, but to make things even easier, we’ve simplified the highlights into key points of consideration when looking for a new solution.</p>
<p>Complete the following sections to better understand the payroll software features you need to make the right choice for your business. Your answers will also form pointers for questions to ask during demos.</p>
<p>&nbsp;</p>
<h2><strong>Answer these questions about your business</strong></h2>
<ul>
<li><strong>Are you an in-house specialist or running payroll on behalf of clients?</strong></li>
</ul>
<p><em>If you’re running payroll on behalf of other companies, you’ll need a specialist product to manage all clients. </em></p>
<ul>
<li><strong>How many workers / employees do you pay?</strong></li>
</ul>
<p><em>The number of people you pay impacts the type of product required. The bigger the business, the more robust the software needs to be. If you have under 10 employees, you can use free software.</em></p>
<ul>
<li><strong>What industry is your business in?</strong></li>
</ul>
<p><em>Some industries have certain payroll legislation (e.g. CIS in construction) and so your software must be compliant &#8211; and ideally specialist. </em></p>
<ul>
<li><strong>Do you have plans to grow your business?</strong></li>
</ul>
<p><em>If you plan to scale up in upcoming years, it’s sensible to choose a scalable product with a pricing model that will allow you to grow without significant additional investment.  </em></p>
<ul>
<li><strong>What is your budget?</strong></li>
</ul>
<p><em>Think about the short and long-term costs. Sometimes a package with higher upfront fees can work out cheaper over time due to lower ongoing pricing &#8211; and vice versa. Cloud technology uses a subscription-based model with a low upfront fee and recurring monthly charges. On-premise software, on the other hand, generally has a higher upfront cost and fees for upgrades.</em></p>
<p>&nbsp;</p>
<h2><strong>Rate your current software (</strong><strong><img src="https://s.w.org/images/core/emoji/13.0.1/72x72/2639.png" alt="☹" class="wp-smiley" style="height: 1em; max-height: 1em;" /></strong> <strong>?</strong> <strong>?</strong><strong>)</strong></h2>
<p><em>Use your ratings to outline the improvements you require from a new solution. Add any other points you see fit.</em></p>
<ul>
<li>Accuracy</li>
<li>Time-saving features e.g. bulk processing</li>
<li>Automation e.g. unlimited payments</li>
<li>Cost</li>
<li>Compliance</li>
<li>Functionality</li>
<li>Ease of use</li>
<li>Flexibility e.g. works across devices</li>
<li>Technology e.g. cloud or on-premise</li>
<li>Payee satisfaction i.e. no delays or disruption to payment</li>
<li>Internal payroll team satisfaction</li>
</ul>
<p>&nbsp;</p>
<h2><strong>Rate your internal capabilities (</strong><strong><img src="https://s.w.org/images/core/emoji/13.0.1/72x72/2639.png" alt="☹" class="wp-smiley" style="height: 1em; max-height: 1em;" /></strong> <strong>?</strong> <strong>?</strong><strong>)</strong></h2>
<p><em>Use your ratings to consider weaknesses in your current capabilities and potential improvements to facilitate software. If the first three points are poorly rated, cloud-based software may be a more suitable option – providing your broadband connection is good or can be improved. Your IT support provider or internet service provider will be able to take you through the options available. </em></p>
<ul>
<li>In-house expertise e.g. IT team, payroll administers</li>
<li>Company devices e.g. RAM, speed</li>
<li>Cybersecurity hygiene</li>
<li>Internet connection</li>
</ul>
<p>&nbsp;</p>
<h2><strong>Outline your feature requirements</strong></h2>
<p><em>Tick all the requirements that apply. Please note these are generic and there may be niche features relevant to your industry or business type. Add any other features you consider essential. </em></p>
<ul>
<li>Scalability e.g. unlimited payments</li>
<li>Speedy processing</li>
<li>Ease of use</li>
<li>Cloud-based technology</li>
<li>Unlimited licenses</li>
<li>Automation features</li>
<li>Employee / client web portal</li>
<li>Reporting suite</li>
<li>Custom reports</li>
<li>Customisable payslips</li>
<li>Bespoke feature requests</li>
<li>Different payment types e.g. BACS</li>
<li>Different payment periods e.g. weekly</li>
<li>Different worker types e.g. commission-based</li>
<li>Bulk processing</li>
<li>Error validation and correction</li>
<li>Pension integrations</li>
<li>Other integrations e.g. CRM</li>
<li>Invoicing / credit note generation</li>
<li>Document storage</li>
<li>UK-based support team</li>
<li>Training</li>
<li>Self-serve knowledge base</li>
<li>Contract flexibility</li>
<li>Unlimited payments</li>
<li>New starters onboarding</li>
<li>Built-in mailbox</li>
<li>A transparent changelog</li>
</ul>
<p>&nbsp;</p>
<h2><strong>Must-have requirements </strong></h2>
<p><em>These points are essential for good payroll software. Ensure the payroll provider meets these requirements. </em></p>
<ul>
<li>Meets security best practise</li>
<li>GDPR compliance</li>
<li>Payroll legislation compliance</li>
<li>Ease of use</li>
<li>Regular feature updates and patches</li>
<li>Ongoing support</li>
</ul>
<p><strong>Looking for payroll software for your recruitment agency, umbrella company, or payroll bureau? We’ve got you. Our fast and flexible payroll software comes with excellent UK-based customer service as part of the package. <a href="https://www.codapay.co.uk/payroll-solutions/">Find out more</a>.</strong></p>
<p>&nbsp;</p>
<h2>Further resources</h2>
<ul>
<li><strong><a href="https://www.codapay.co.uk/resources/payroll-software-buyers-guide/">A guide to switching payroll software</a></strong></li>
<li><strong><a href="https://www.codapay.co.uk/resources/webinar-how-to-choose-the-right-payroll-software/">How to choose the right payroll software [Webinar]</a></strong></li>
</ul>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/payroll-software-features-assessment/">Assessment: What payroll software features do I need?</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>New tax year, new payroll software</title>
		<link>https://www.codapay.co.uk/news/new-tax-year-new-payroll-software/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 26 Jan 2022 10:37:35 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=9975</guid>

					<description><![CDATA[<p>Now we’re settled into 2022, it’s time to plan for what you want to achieve in the new financial year. [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/new-tax-year-new-payroll-software/">New tax year, new payroll software</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Now we’re settled into 2022, it’s time to plan for what you want to achieve in the new financial year.</p>
<p>When it comes to paying workers, a key consideration is whether your current software is still fit for purpose. Your solution should not only get the job done but also reduce admin and make payroll tasks easier.</p>
<p>If it doesn’t – now’s the perfect time to switch solutions and start fresh without the need for mid-year data migration. Continue reading to learn why.</p>
<p>&nbsp;</p>
<h2><strong>Why now is the perfect time</strong></h2>
<p>The period leading up to the new tax year is the most popular time to switch for two reasons:</p>
<p><strong>1)</strong> It enables a fresh start</p>
<p><strong>2)</strong> No mid-year data needs to be moved over</p>
<p>With a strong onboarding plan, switching is easy at any time of year. However, eliminating data migration does make it that bit quicker, so you can be up and running sooner.</p>
<p>At Codapay, new clients are usually onboarded within weeks, so we recommend committing to switching by end of February to go live in time for the new tax year. Be aware that it’s the busiest time of year for software providers, so leaving it to the last minute may not accommodate the deadline.</p>
<p>Find out more about migrating to a new software partner in our <a href="https://www.codapay.co.uk/resources/switching-guide/"><strong>switching guide</strong></a>.</p>
<p><img loading="lazy" class="alignnone wp-image-9977" src="https://www.codapay.co.uk/storage/2022/01/Switching-guide-orange-background-Copy.png" alt="Switching guide promo" width="504" height="504" srcset="https://www.codapay.co.uk/storage/2022/01/Switching-guide-orange-background-Copy.png 1100w, https://www.codapay.co.uk/storage/2022/01/Switching-guide-orange-background-Copy-300x300.png 300w, https://www.codapay.co.uk/storage/2022/01/Switching-guide-orange-background-Copy-1024x1024.png 1024w, https://www.codapay.co.uk/storage/2022/01/Switching-guide-orange-background-Copy-150x150.png 150w, https://www.codapay.co.uk/storage/2022/01/Switching-guide-orange-background-Copy-768x768.png 768w, https://www.codapay.co.uk/storage/2022/01/Switching-guide-orange-background-Copy-320x320.png 320w" sizes="(max-width: 504px) 100vw, 504px" /></p>
<p>&nbsp;</p>
<h2><strong>Evaluate your current solution</strong></h2>
<p>We’ve explained how to identify a poor payroll solution many times before, but you’ll probably already know if it doesn’t hit the mark. Whether it’s causing frustrated staff with slow loading and unnecessary workarounds or unhappy workers due to incorrect or late payslips, it doesn’t have to be that way.</p>
<p>By choosing a company with first-class software and customer service, as well as a robust onboarding process, switching doesn’t have to be a pain. Here are some initial considerations to weigh up your current software:</p>
<ul>
<li>Is it easy to use?</li>
<li>Is it scalable?</li>
<li>Is it automated?</li>
<li>Is it future-proofed? Is it cloud-based?</li>
<li>Does it offer value for money?</li>
<li>Is ongoing support satisfactory?</li>
</ul>
<p>If you’ve answered no to any of these questions, your business can benefit from a new solution to supercharge productivity and save billable time.</p>
<p>If you need to make a strong business case for a new solution, check out <a href="https://www.codapay.co.uk/news/3-easy-steps-to-calculate-the-roi-of-payroll-software/"><strong>our blog post on calculating the ROI of payroll software</strong></a>. A new solution can equate to real money savings – an important factor in any business decision.</p>
<p><strong> </strong></p>
<h2><strong>Finding the perfect software partner </strong></h2>
<p>Marketing materials can only go so far when it comes to weighing up your software options. Book in free demos with multiple providers to see the software in action and get to know the people behind the product. Ideally, you’ll be able to trial the product before committing to ensure it’s the right choice for you.</p>
<p>Your chosen software must do all the basic tasks well – by making them easier and quicker. Try not to be swayed by the nice-to-haves and ensure the general functionality is seamless and scalable. If you need help with what to look out for, <a href="https://www.codapay.co.uk/resources/payroll-software-buyers-guide/"><strong>download our free payroll software buyer’s guide</strong></a>.</p>
<p>However, it’s not only the software that needs to be considered but also the provider. While switching software is easy from a technical standpoint, it’s not something you’ll want to do regularly – with the added requirements of onboarding staff and searching for another partner.</p>
<p>You should always make sure the software provider has:</p>
<ul>
<li>A robust onboarding process</li>
<li>UK-based support</li>
<li>Measurable SLAs for support</li>
<li>Online self-service</li>
</ul>
<p>&nbsp;</p>
<h2><strong>Why it’s better to switch sooner than later</strong></h2>
<p>Delaying your migration will cost you time and money for each month you continue to use an inefficient solution. Plus, the knock-on effects of poor processes can be detrimental: an unmotivated workforce, dissatisfied workers, legal consequences, and much more.</p>
<p>Changing your software can sometimes seem like a scary prospect &#8211; and it can feel like it’s better the devil you know, despite the issues caused for your team, contractors, and agencies. However, rest assured it’s a process that’s taken out of your hands by your software provider to ensure a smooth transition.</p>
<p>The faster you get the ball rolling, the sooner you can be making time and cost savings. If your team’s efficiency is compromised by an outdated solution, it’s a problem for today – and not another day.</p>
<p>&nbsp;</p>
<h2><strong>Further reading</strong></h2>
<p>Download our handy guides to help you with planning and to motivate you to begin the switching process.</p>
<ul>
<li><a href="https://www.codapay.co.uk/resources/switching-guide/"><strong>Payroll software switching guide</strong></a> – read all about the ins and outs of changing solutions</li>
<li><a href="https://www.codapay.co.uk/resources/payroll-software-buyers-guide/"><strong>A buyer’s guide to payroll software</strong></a> – learn how to find the best solution for your business</li>
<li><a href="https://www.codapay.co.uk/resources/"><strong>Codapay brochure</strong></a> – discover all the great benefits our payroll software has to offer</li>
</ul>
<p>&nbsp;</p>
<h2><strong>About Codapay</strong></h2>
<p>We provide cloud-based payroll software for umbrella companies, recruitment agencies, payroll bureaus, and more. Our flexible solutions are ideal for businesses of all sizes, designed to scale alongside you. Plus, we have a fully UK-based team who are always available when you are.</p>
<p>Our free demo offers you the opportunity to see our software in action and speak with our friendly commercial team, plus you can take advantage of our free 7-day trial.</p>
<p>Get started today by <a href="http://codapay.co.uk/contact"><strong>contacting us</strong></a>.</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/new-tax-year-new-payroll-software/">New tax year, new payroll software</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>UK payroll tax calendar and key tax dates 2022-23</title>
		<link>https://www.codapay.co.uk/news/tax-calendar-2022-23/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Fri, 07 Jan 2022 14:07:27 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=9938</guid>

					<description><![CDATA[<p>With the rate of inflation skyrocketing in 2021, we’ve seen a number of announcements that will impact the take-home pay [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/tax-calendar-2022-23/">UK payroll tax calendar and key tax dates 2022-23</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>With the rate of inflation skyrocketing in 2021, we’ve seen a number of announcements that will impact the take-home pay of UK workers over the next tax year.</p>
<p>Check out the main changes coming into effect in the 2022-23 tax year below, and also download our free UK tax calendar 2022-23 PDF.</p>
<p>&nbsp;</p>
<h2><strong>Download the UK 2022 – 2023 tax calendar PDF</strong></h2>
<p>No details required. Simply <strong><a href="https://www.codapay.co.uk/storage/2022/01/Tax-calendar-2223-Codatech.pdf" target="_blank" rel="noopener"><u>click here</u></a></strong> to open and download the PDF.</p>
<p>The calendar shows an overview of each month from 6 April 2022 to 5 April 2023.</p>
<p>&nbsp;</p>
<h2><strong>Key tax dates 2022-23</strong></h2>
<ul>
<li><strong>1<sup>st</sup> April 2022</strong>: National Living Wage will increase from £8.91 to £9.50 per hour, while <strong><a href="https://www.gov.uk/government/publications/minimum-wage-rates-for-2022">National Minimum Wage rates are increasing</a></strong> too</li>
<li><strong>1<sup>st</sup> April 2022</strong>: Businesses with taxable turnovers below £85,000 must comply with the Making Tax Digital initiative</li>
<li><strong>6<sup>th</sup> April 2022</strong>: <strong><a href="https://www.gov.uk/national-insurance/how-much-you-pay">National Insurance is increasing</a></strong> by 1.25% for Class 1 (employees), Class 4 (self-employed), and secondary Class 1, 1A, and 1B (employers)</li>
<li><strong>6<sup>th</sup> April 2022</strong>: <strong><a href="https://www.gov.uk/government/publications/income-tax-personal-allowance-and-the-basic-rate-limit-from-6-april-2022-to-5-april-2026/income-tax-personal-allowance-and-the-basic-rate-limit-from-6-april-2022-to-5-april-2026">Personal allowance is frozen</a> </strong>until April 2026 at £12,570; the basic rate limit at £37,700; and the higher rate limit at £50,270</li>
<li><strong>6<sup>th</sup> April 2022</strong>: The <strong><a href="https://www.gov.uk/government/news/student-loans-interest-rates-and-repayment-threshold-announcement--2">repayment thresholds for pre-2012 student loans</a> </strong>(Plan 1) will rise from £19,895 to £20,195</li>
<li><strong>6<sup>th</sup> July 2022</strong>: The <strong><a href="https://www.gov.uk/government/publications/national-insurance-contributions-increase-of-thresholds-bill">National Insurance threshold will rise</a></strong> to meet the Personal Allowance for Income Tax (£12,570)</li>
</ul>
<p>See more<strong><a href="https://www.gov.uk/guidance/rates-and-thresholds-for-employers-2022-to-2023"> rates and threshold changes from HMRC</a></strong>.</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/tax-calendar-2022-23/">UK payroll tax calendar and key tax dates 2022-23</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>Software cost vs quality: let’s talk about it</title>
		<link>https://www.codapay.co.uk/news/software-cost-vs-quality/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Thu, 09 Dec 2021 11:40:48 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=9923</guid>

					<description><![CDATA[<p>We recently signed a deal with a new client, despite not being the cheapest option. So, we thought we’d talk [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/software-cost-vs-quality/">Software cost vs quality: let’s talk about it</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>We recently signed a deal with a new client, despite not being the cheapest option. So, we thought we’d talk about it.</p>
<p>Our <a href="https://www.codapay.co.uk/pricing/"><strong>pricing</strong></a> is something we’re often compared on, but rarely something that swings the balance. The value of Codapay’s payroll software goes beyond our pricing plans – and is something prospective buyers are demonstrated during the sales process.</p>
<p>Generally, cost and quality are only loosely related. For example, paying more for a handbag may afford you better, more sustainably sourced materials with ethical production. On the other hand, it may buy you lesser quality – but with the addition of a recognisable logo.</p>
<p>When thinking about software, there are the different components that impact the cost, including:</p>
<ul>
<li>Internal team (salary relative to location and skillset)</li>
<li>Technology (cost of internal maintenance of systems)</li>
<li>Business overheads</li>
<li>Client base (the more turnover, the more scope to lower fees)</li>
</ul>
<p>That being said, let’s dive into our pricing and why it’s not necessarily the cheapest (and why cost is an unreliable way to select technology).</p>
<p>&nbsp;</p>
<h2><strong>“There are cheaper options than Codapay”</strong></h2>
<p>If a vendor can prove that their solution offers the most value, cost shouldn’t be the sole decision maker in your investment.</p>
<p>Think of it like buying a house. The properties within your budget will likely be a similar size and type, but dealbreakers include things like location, privacy, garden size, modernness… you get the idea. Now back to software – comparing a solution on cost alone is risky. That’s not to say that sometimes the cheapest option is also the best option, but ‘best’ should translate to ‘most suitable for my business’.</p>
<p>Our pricing structure is set to remain profitable for us, and as low as possible for you. Our plans are affordable and competitive, with a low upfront cost and a flexible ongoing pay-per-usage model (support included free!).</p>
<p>&nbsp;</p>
<h3><strong>UK-based team</strong></h3>
<p>Our team is the number one cost to our business. Why? Because we’re fully UK-based and we invest in skilled, experienced professionals &#8211; which of course comes at a price. Key benefits of our UK-based team include:</p>
<ul>
<li>We’re available when you are</li>
<li>No communication barriers</li>
<li>All our teams are closely connected and fully understand the system and payroll</li>
<li>Our support service is monitored for customer satisfaction, with feedback taken on board</li>
</ul>
<p>Customer service is key when it comes to software – especially when it concerns the vital function of payroll. Our support desk is managed by experienced project managers and seasoned developers who aim to get you a first response in just 20 minutes (Q2 2021 ratings).</p>
<p>We’re well-resourced to ensure 1) Codapay continues to improve with features and patches, 2) ongoing support stays highly responsive and without the faff, and 3) the implementation process is as short as possible, while remaining effective. As such, we never compromise our standards of service to lower our maintenance costs.</p>
<p>&nbsp;</p>
<h3><strong>Trusted technology</strong></h3>
<p>Then there’s technology. We know you don’t want your software to be 10 steps ahead of you – you want it to be easy to use and to do what it does well. We take pride in our trusted tech stack with leading frameworks (from server hosting to cloud platform services) to provide you with a platform that’s secure and seamless. Plus, we take cyber essentials seriously and ensure our systems are always up to date.</p>
<p>&nbsp;</p>
<h3><strong>Summary </strong></h3>
<p>In short, our pricing is based on the cost of maintaining Codapay’s quality – meaning we position our solution as great value for money. Plus, our investment in our team and technology really pay off when it comes to efficiency and satisfaction.</p>
<p>On that note, let’s consider some of Codapay’s time-saving features.</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<h2><strong>Designed to reduce your billable time </strong></h2>
<p>As mentioned, the value of Codapay goes beyond its pricing structures. The platform is developed to save you time – and therefore money – with a whole host of impressive capabilities, including:</p>
<ul>
<li>Cloud-based modern technology</li>
<li>Unrivalled speed &#8211; process unlimited payments in seconds</li>
<li>Large range of pre-built reports</li>
<li>Bulk processing and automation</li>
<li>Open pay weeks – reverse and correct errors</li>
<li>Reliable pre-payroll validation checks</li>
<li>Real-time record searching</li>
<li>Clear and easily accessible audit logs</li>
<li>Pension integration</li>
</ul>
<p>Our platform is specially designed to be limitless, scaling up with you without any hidden costs. There&#8217;s no charge per user or employers/agencies/workers, allowing you to enjoy flexibility without paying a premium. Plus, you can pay workers across different employers/clients all at once.</p>
<p>On top of all that, our product team manages our feature roadmap to ensure our clients benefit from free updates to supercharge efficiency and improve Codapay’s capabilities.</p>
<p>&nbsp;</p>
<h2><strong>So, how much can I expect to pay?</strong></h2>
<p>Our prices are based on the number of payslips processed – whether that be weekly, fortnightly, or monthly. Each time you process a payslip, you’ll be charged a nominal sum. That means you only pay for what you use, offering complete flexibility whether you incur seasonal fluctuations or win/lose business.</p>
<p>When you switch to Codapay, you’ll be quoted a competitive price for all fees associated with onboarding – including software set up, access to an implementation manager, our training resources, and trialling the software.</p>
<p>Some vendors may not charge a setup fee while others may charge a high amount. At Codapay, our low setup costs allow us to cover initial onboarding costs and keep your ongoing monthly subscription as low as possible. Be mindful of all costs associated with a new provider and make sure there are no hidden fees.</p>
<p>Codapay clients never receive unexpected bills as support and updates are all included in the package. You don’t need to worry about upgrading when you expand either, as our scalable system grows with you.</p>
<p><a href="https://www.codapay.co.uk/pricing/"><strong>Get your bespoke quote here</strong>.</a></p>
<p>&nbsp;</p>
<h2><strong>A better way to weigh up your options</strong></h2>
<p>Of course, cost is an important factor for any business investment, but <em>value for money</em> is a better way to look at it. By that, we mean the software that is the most impactful for your budget in terms of ease of use, time-saving qualities, and effectiveness.</p>
<p>The best way to assess this is by booking several demos with shortlisted payroll software providers to get a good understanding of their capabilities. While a website is always a good place to start for getting the gist of a solution, you won’t be able to confirm if the marketing stacks up until you see it in action.</p>
<p>On that note (?), feel free to <a href="https://www.codapay.co.uk/contact/"><strong>book a free, no-commitment demo of Codapay</strong></a> to discover why it’s great value for money.</p>
<p>&nbsp;</p>
<h2><strong>Recommended reading</strong></h2>
<ul>
<li><strong><a href="https://www.codapay.co.uk/news/what-is-the-cost-of-payroll-software-in-the-uk/">What is the cost of payroll software in the UK?</a></strong></li>
<li><strong><a href="https://www.codapay.co.uk/news/how-to-choose-the-right-payroll-software/">10 things to consider when choosing payroll software</a></strong></li>
<li><strong><a href="https://www.codapay.co.uk/news/the-sunk-cost-fallacy-and-software/">The sunk cost fallacy and payroll software</a></strong></li>
</ul>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/software-cost-vs-quality/">Software cost vs quality: let’s talk about it</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>How National Minimum Wage has changed since its introduction in 1999</title>
		<link>https://www.codapay.co.uk/news/how-national-minimum-wage-has-changed-since-its-introduction-in-1999/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Tue, 30 Nov 2021 11:21:29 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=9900</guid>

					<description><![CDATA[<p>The National Minimum Wage (NMW) was introduced in 1999 to prevent the lowest-paid workers from falling into poverty. The figure [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/how-national-minimum-wage-has-changed-since-its-introduction-in-1999/">How National Minimum Wage has changed since its introduction in 1999</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>The National Minimum Wage (NMW) was introduced in 1999 to prevent the lowest-paid workers from falling into poverty.</p>
<p>The figure increases each year to account for factors like inflation, economic fluctuations, and social change. In 2016, the National Living Wage (NLW) was introduced to help workers over 25 meet the cost of living – the previously highest band accounted for all workers over 21.</p>
<p>The NMW and NLW rates have increased over the past two years to support lower earners with the knock-on effects of the pandemic. The Chancellor, Rishi Sunak, recently announced that the <strong><a href="https://www.gov.uk/government/publications/minimum-wage-rates-for-2022">NLW is increasing</a></strong> from £8.91 to £9.50 in April 2022 &#8211; an increase of 6.6%. This comes after the NLW <strong><a href="https://www.gov.uk/government/news/national-living-wage-extended-to-younger-workers">age threshold was reduced from 25 to 22</a></strong> in April 2021.</p>
<p>It’s a legal requirement for all businesses to comply with the up-to-date rates when payrolling employees. Trusted payroll software should account for the changes to prevent incorrect pay and therefore penalties.</p>
<p>On that note, let’s dive into the latest rates and historical data to see what’s changing &#8211; including a graph and table at the end of the article.</p>
<p>&nbsp;</p>
<h2><strong>Changes to the National Minimum Wage</strong></h2>
<p>The below graph shows how the National Minimum Wage has changed since the millennium, including the introduction of the National Living Wage in 2016. Comparing the NMW rate of £3.60 in 1999 to the upcoming NLW of £9.50 in 2022, there&#8217;s an increase of 163.8%.</p>
<p>It’s interesting to consider the increase in costs of living during this 23-year period. In pop culture, the so-called “Freddo index” is a tongue-in-cheek way to measure inflation over the years – the popular chocolate bar <strong><a href="https://www.vouchercloud.com/resources/the-freddo-index">that was once 10p</a></strong> is now 25p. Meanwhile, data from Halifax shows the average house price in 1999 was £91,199, compared to <strong><a href="https://www.gov.uk/government/news/uk-house-price-index-for-june-2021">£265,668 in June 2021</a></strong> &#8211; a 191.3% increase.</p>
<p>UK <strong><a href="https://www.bbc.co.uk/news/business-12196322">inflation rose to 4.2%</a></strong> in October 2021, the highest rate in over 10 years. An increase in NMW and NLW rates reflects the rising cost of living. Check out the table in Figure 2 for all the NMW and NLW rates from 1999 to 2022.</p>
<p>&nbsp;</p>
<p><strong>Figure 1: Graph showing the National Minimum Wage rate increase from 1999 to 2021 </strong></p>
<p><img loading="lazy" class="alignnone size-full wp-image-9914" src="https://www.codapay.co.uk/storage/2021/11/National-Minimum-Wage-1999-to-2022.png" alt="National Minimum Wage 1999 to 2022" width="1024" height="768" srcset="https://www.codapay.co.uk/storage/2021/11/National-Minimum-Wage-1999-to-2022.png 1024w, https://www.codapay.co.uk/storage/2021/11/National-Minimum-Wage-1999-to-2022-300x225.png 300w, https://www.codapay.co.uk/storage/2021/11/National-Minimum-Wage-1999-to-2022-768x576.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>&nbsp;</p>
<p><strong>Figure 2: Table showing the National Minimum Wage rates by band from 1999 to 2022</strong></p>
<table width="835">
<tbody>
<tr>
<td width="110"><strong>Date</strong></td>
<td width="145"><strong>Main Rate (Age 22+)</strong></td>
<td width="181"><strong>Youth Development Rate (Age 18-21)</strong></td>
<td width="122"><strong>Age 16-17</strong></td>
<td width="135"></td>
<td width="142"></td>
</tr>
<tr>
<td width="110"><strong>1.04.1999</strong></td>
<td width="145">£3.60</td>
<td width="181">£3.00</td>
<td width="122">N/A</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2000</strong></td>
<td width="145">£3.70</td>
<td width="181">£3.20</td>
<td width="122">N/A</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2001</strong></td>
<td width="145">£4.10</td>
<td width="181">£3.50</td>
<td width="122">N/A</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2002</strong></td>
<td width="145">£4.20</td>
<td width="181">£3.60</td>
<td width="122">N/A</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2003</strong></td>
<td width="145">£4.50</td>
<td width="181">£3.80</td>
<td width="122">N/A</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2004</strong></td>
<td width="145">£4.85</td>
<td width="181">£4.10</td>
<td width="122">£3.00</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2005</strong></td>
<td width="145">£5.05</td>
<td width="181">£4.25</td>
<td width="122">£3.00</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2006</strong></td>
<td width="145">£5.35</td>
<td width="181">£4.45</td>
<td width="122">£3.30</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2007</strong></td>
<td width="145">£5.52</td>
<td width="181">£4.60</td>
<td width="122">£3.40</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2008</strong></td>
<td width="145">£5.73</td>
<td width="181">£4.77</td>
<td width="122">£3.53</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2009</strong></td>
<td width="145">£5.80</td>
<td width="181">£4.83</td>
<td width="122">£3.57</td>
<td></td>
<td></td>
</tr>
<tr>
<td width="110"></td>
<td width="145"><strong>Main Rate (changed to Age 21+)</strong></td>
<td width="181"><strong>Youth Development Rate (changed to Age 18-20)</strong></td>
<td width="122"><strong>Age 16-17</strong></td>
<td width="135"><strong>Apprentice Rate introduced</strong></td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2010</strong></td>
<td width="145">£5.93</td>
<td width="181">£4.92</td>
<td width="122">£3.64</td>
<td width="135">£2.50</td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2011</strong></td>
<td width="145">£6.08</td>
<td width="181">£4.98</td>
<td width="122">£3.68</td>
<td width="135">£2.60</td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2012</strong></td>
<td width="145">£6.19</td>
<td width="181">£4.98</td>
<td width="122">£3.68</td>
<td width="135">£2.65</td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2013</strong></td>
<td width="145">£6.31</td>
<td width="181">£5.03</td>
<td width="122">£3.72</td>
<td width="135">£2.68</td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2014</strong></td>
<td width="145">£6.50</td>
<td width="181">£5.13</td>
<td width="122">£3.79</td>
<td width="135">£2.73</td>
<td></td>
</tr>
<tr>
<td width="110"><strong>1.10.2015</strong></td>
<td width="145">£6.70</td>
<td width="181">£5.30</td>
<td width="122">£3.87</td>
<td width="135">£3.30</td>
<td></td>
</tr>
<tr>
<td width="110"></td>
<td width="145"><strong>25 and over</strong></td>
<td width="181"><strong>Age 21-24</strong></td>
<td width="122"><strong>Age 18-20</strong></td>
<td width="135"><strong>Under 18</strong></td>
<td width="142"><strong>Apprentice</strong></td>
</tr>
<tr>
<td width="110"><strong>1.04.2016</strong></td>
<td width="145">£7.20</td>
<td width="181">£6.70</td>
<td width="122">£5.30</td>
<td width="135">£3.87</td>
<td width="142">£3.30</td>
</tr>
<tr>
<td width="110"><strong>1.10.2016</strong></td>
<td width="145">£7.20</td>
<td width="181">£6.95</td>
<td width="122">£5.55</td>
<td width="135">£4.00</td>
<td width="142">£3.40</td>
</tr>
<tr>
<td width="110"><strong>1.04.2017</strong></td>
<td width="145">£7.50</td>
<td width="181">£7.05</td>
<td width="122">£5.60</td>
<td width="135">£4.05</td>
<td width="142">£3.50</td>
</tr>
<tr>
<td width="110"><strong>1.04.2018</strong></td>
<td width="145">£7.83</td>
<td width="181">£7.38</td>
<td width="122">£5.90</td>
<td width="135">£4.20</td>
<td width="142">£3.70</td>
</tr>
<tr>
<td width="110"><strong>1.04.2019</strong></td>
<td width="145">£8.21</td>
<td width="181">£7.70</td>
<td width="122">£6.15</td>
<td width="135">£4.35</td>
<td width="142">£3.90</td>
</tr>
<tr>
<td width="110"><strong>1.04.2020</strong></td>
<td width="145">£8.72</td>
<td width="181">£8.20</td>
<td width="122">£6.45</td>
<td width="135">£4.55</td>
<td width="142">£4.15</td>
</tr>
<tr>
<td></td>
<td><strong>23 and over</strong></td>
<td><strong>Age 21-22</strong></td>
<td><strong>Age 18-20</strong></td>
<td><strong>Under 18</strong></td>
<td><strong>Apprentice</strong></td>
</tr>
<tr>
<td width="110"><strong>1.04.2021</strong></td>
<td width="145">£8.91</td>
<td width="181">£8.36</td>
<td width="122">£6.56</td>
<td width="135">£4.62</td>
<td width="142">£4.30</td>
</tr>
<tr>
<td><strong>1.04.2022</strong></td>
<td>£9.50</td>
<td>£9.18</td>
<td>£6.83</td>
<td>£4.81</td>
<td>£4.81</td>
</tr>
</tbody>
</table>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/how-national-minimum-wage-has-changed-since-its-introduction-in-1999/">How National Minimum Wage has changed since its introduction in 1999</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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		<title>Exclusive Black Friday deal on Codapay payroll software</title>
		<link>https://www.codapay.co.uk/news/exclusive-black-friday-deal-on-codapay-payroll-software/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Mon, 22 Nov 2021 10:51:52 +0000</pubDate>
				<category><![CDATA[General]]></category>
		<guid isPermaLink="false">https://www.codapay.co.uk/?p=9889</guid>

					<description><![CDATA[<p>Grab the golden opportunity to get money off switching to Codapay payroll software this Black Friday and Cyber Monday. From [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/exclusive-black-friday-deal-on-codapay-payroll-software/">Exclusive Black Friday deal on Codapay payroll software</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Grab the golden opportunity to get money off switching to Codapay payroll software this Black Friday and Cyber Monday.</p>
<p>From Monday 22<sup>nd</sup> to Monday 29<sup>th</sup> November, we’re slashing our set-up fees by 25% and offering 1 month of Codapay free, with savings of hundreds of pounds.</p>
<p>To qualify, simply <a href="https://www.codapay.co.uk/contact/"><strong>request a free demo</strong></a> to take place by the end of 2021, referencing our Black Friday promotion. If you then go-live with Codapay as your software partner by 31<sup>st</sup> March 2022, we’ll reward you with the offer.</p>
<p>This means you’ll be up and running ready for the new tax year – the most popular time of year to <a href="https://www.codapay.co.uk/resources/switching-guide/"><strong>switch payroll software</strong></a>.</p>
<p>Please note this offer is only available to new customers.</p>
<p>&nbsp;</p>
<h2><strong>Need a recap of Codapay’s benefits?</strong></h2>
<p>We’re proud of our solution and take every opportunity to talk about it.</p>
<p>Codapay is payroll software for recruitment agencies, umbrella companies, payroll bureaus, and accountants that works alongside you to simplify your payroll tasks.</p>
<p>Our future-proofed solution is ever-evolving to meet changing user and legislation requirements. Plus, we listen to and encourage feedback, continually improving Codapay with new features and usability updates.</p>
<p>When you move to Codapay, you can expect:</p>
<ul>
<li>Payroll processing in under 5 seconds</li>
<li>Limitless bulk actions, including processing workers across different payment companies</li>
<li>Just one login to manage all workers</li>
<li>No extra cost per license</li>
<li>No upgrade needed as our cloud software is scalable</li>
<li>Fast technical support from our UK-based team</li>
</ul>
<p>Sound good? <a href="https://www.codapay.co.uk/contact/"><strong>Book your free demo today</strong></a> and don’t miss out on this exclusive offer!</p>
<p>&nbsp;</p>
<h2><strong>Recommended reading</strong></h2>
<ul>
<li><a href="https://www.codapay.co.uk/news/codapay-payroll-software-feature-and-service-comparison/"><strong>Codapay payroll software: Feature and service comparison</strong></a></li>
<li><strong><a href="https://www.codapay.co.uk/news/10-signs-you-need-to-change-your-payroll-software/">10 signs you need to change your payroll software</a></strong></li>
<li><strong><a href="https://www.codapay.co.uk/news/the-best-time-to-change-your-payroll-software/">The best time to change your payroll software</a></strong></li>
<li><strong><a href="https://www.codapay.co.uk/news/the-sunk-cost-fallacy-and-software/">The sunk cost fallacy and software</a></strong></li>
</ul>
<p>The post <a rel="nofollow" href="https://www.codapay.co.uk/news/exclusive-black-friday-deal-on-codapay-payroll-software/">Exclusive Black Friday deal on Codapay payroll software</a> appeared first on <a rel="nofollow" href="https://www.codapay.co.uk">Codapay</a>.</p>
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