National accounts and advisory firm MHA, explore the looming payroll crisis and why employers must act now.

The government’s upcoming changes to National Insurance and National Living Wage are set to deliver a seismic shift in payroll costs for businesses. These changes represent a major financial threat to employers, particularly those with large workforces or employees earning at or near the National Living Wage. Employers must take immediate steps to estimate the additional costs, understand their financial position, and explore ways to mitigate the impact. Failure to act now could leave businesses struggling to absorb these increases.

 MHA Tax Partner, Fancis Hudson, explores the changes and what employers can do in the article over on MHA’s website.

 About MHA

MHA, ranked the 13th largest accountancy group in the UK and Republic of Ireland, has a turnover of £205m turnover 1,964 staff, 136 partners and comprises of 23 offices nationwide including England, Scotland and Wales, plus a further two in Ireland and also one in the Cayman Islands. MHA is an independent member firm of Baker Tilly International, the world’s 9th largest international network of independently owned and managed accountancy and business advisory firms, with revenues of $5.62bn and 43,500 people operating across 144 territories.