Jersey Mini Budget – Changes to Jersey Payroll
An extensive package of measures to address the cost-of-living crisis, which formed part of the Chief Minister’s 100 day plan has been passed.
The aim of this package is to put almost £15 million back into Islanders’ pockets this year and almost £42 million in 2023.
The Minister for Treasury and Resources, Deputy Ian Gorst, said: “This mini budget will help individuals and families with their budgets in this cost of living crisis. I am pleased with the work we have done to help people with these broad measures at this time of need in the community.”
Some of the changes passed as part of the Mini budget will directly impact payroll in Jersey. A reduction from 6% to 4% for employee Social Security contributions, came into effect on the 1st of October 2022 for 3 months (ending on the 31st of December 2022).
Our clients won’t need to do anything, as the update to social security will go through to our databases automatically.
Also approved as part of the Mini budget was an above inflation increase of 12% in Income Tax thresholds and allowances, including Child Allowances, Additional Allowance and Child Care Tax Relief. From 1 January 2023 Income tax threshold for a single person will be raised from £16,550 to £18,550.
We will also be updating Jersey databases to reflect the increase in income tax thresholds from the 1st of January 2023 onward and will let our clients know if any action is required.
You can find more information about the Mini budget through the Government of Jersey website: https://www.gov.je/News/2022/Pages/MiniBudgetQandA.aspx
Source: Government of Jersey News Release.
September 18, 2024
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Offshore Payroll announced as supporting sponsor of DisruptHR conference
Returning to St Helier for their fifth event in the Channel Islands, DisruptHR is a global movement designed to energise, inform and empower people in the fields of people, business and the future of work.
Once in a while, an event series is born that shakes things up, makes you think differently, it leaves you inspired, this is DisruptHR.
14 speakers, just five minutes each, and slides rotate every 15 seconds. Over 250 global cities across 6 continents have hosted this phenomenon.
Offshore Payroll is delighted to be announced as a supporting sponsor for Disrupt St. Helier 2024, with Offshore Payroll’s very own Megan Rolland included in the line-up of speakers.
Speaking on the announcement Director, Jeralie Pallot has said “As a team, we are very proud to be a supporting sponsor of this thought-provoking event that challenges traditional HR practices. We are especially excited to be supporting Megan on stage as she disrupts conventional thinking on payroll; with thoughts on transforming a routine administrative task into a powerful strategic tool for developing meaningful connections. We live in a world that thrives with change, where agility and adaptability are the keys to success – why should payroll be any different?“
Interested? Tickets are now available on Eventbrite click here, we look forward to seeing you there!
Meet our Team – Julie Heaven
Julie brings a wealth of financial expertise and over two decades of experience to our team. Qualifying as a Chartered Global Management Accountant (CGMA) in 2000, she has held several senior financial management roles throughout her career, including her most recent position as Director of Purpose. In this role, she provides strategic financial guidance to owner-managed companies, helping them navigate complex financial landscapes and achieve sustainable growth.
Embracing Modern Payroll Technology
In today’s fast-paced business environment, getting payroll right isn’t just a matter of paying employees on time – it’s about maintaining trust, boosting productivity, and creating a workplace where things run smoothly. Payroll errors, often underestimated, can turn what should be a straightforward task into a frustrating experience for both employees and business owners.
The good news? With the right tools, payroll can go from a headache to a highlight! Believe it or not, payroll errors are more common than we think. In fact, nearly 9 out of 10 UK businesses faced payroll issues in 2022. These mistakes, whether small or significant, usually lead to late or incorrect payments. The ripple effect of such errors can be felt throughout the entire organisation, leading to unhappy employees, unnecessary stress, and time wasted on troubleshooting.
According to Personnel Today, some companies are spending more than 12 hours a month fixing payroll mistakes – valuable time that could be better spent growing the business. But there’s no need to get bogged down by these numbers. The solution is simpler than ever: modern payroll technology. True Cloud-based payroll systems, like Offshore Payroll, are transforming how businesses handle payroll, making it a seamless, efficient process.
Many companies recognise that upgrading their payroll system can significantly reduce errors and save time but concerns about cost and implementation can often cause hesitation. Offshore Payroll is here to change that perception. We believe that powerful, intuitive payroll software should be accessible to all businesses, regardless of size and without the stress or high expense. Our smart import tools make transferring payroll data and initial set up a breeze, and our dedicated relationship managers guide you every step of the way.
Once you make the switch, you’ll wonder why you didn’t do it sooner. No more hours wasted on fixing errors – just more time to focus on what truly matters: growing your business. It’s a smart investment that pays off, leaving both you and your team more satisfied, productive, and ready for the future.
“It has given us peace of mind”
The reporting section is extremely in depth and helpful. We have been using various reports to help create our own management reports which has led us to examine payroll expenditure easily.
Having the widgets to run through step-by-step payroll or adding a new employee ensures nothing is missed. Also, the accessibility due to being Cloud based.
It’s a great system! Easy to use, can be tailored to your specific payroll needs without being overwhelming and if you can’t find something in the extensive user guide then a team of experts is only a click away.
Emma McCaw – Consultant