A fun Bank Holiday quiz!
Three things about payroll you have never asked
Payroll is something all businesses need. But have you ever sat and thought about some of the facts and figures involved? Nigel Stapleton our Payroll Manager has explored his knowledge of payroll to come up with three facts about payroll that you may never have thought about, yet alone asked!
- CBR Business Solutions specialise in managing monthly payrolls for our customers. What % of payees in the UK are also paid monthly?
- We make payments directly to HMRC on behalf of customers. How much revenue did HMRC collect in respect of PAYE and NIC in the year 2017/2018?
- Since October 2012 we have helped our customers meet their requirement to automatically enrol eligible employees into a pension scheme. What % of employees nationally are now members of a pension scheme?
Scroll down to see the answers. There are some surprising facts and figures…
Q1. Surprisingly, just over three quarters of us (75.5%) are paid monthly, with other employees receiving their salary as follows:
- Weekly 13.6%
- Fortnightly 1.7%
- Four-weekly 9.1%
Q2. HMRC collected a whopping £316.5 billion in 2017/8, made up of £186 billion PAYE + £130.5 billion NIC
Q3. Auto enrolment of pensions has had a dramatic impact on how we are saving for our futures. 73% of employees are now members of a pension scheme (up from 47% at the start of October 2012)
Congratulations if you got all three questions right, are you working for HMRC? Commiserations if, like most people, the answers eluded you. It’s a specialist payroll world out there!
- Annual Survey of Hours and Earnings (ASHE) – Office for National Statistics
- HMRC Review 2017/2018
- Office of National Statistic (ONS)