When your business must start doing this - called a 'staging date' - depends on how many people you have on your payroll. If you don't already offer your workers a workplace pension scheme, you must set one up before your staging date. Use The Pensions Regulator’s Duties Checker to find out what you need to do and when you need to do it:
At some point, there's a good chance that one of your employees will not turn up for work because they are sick. If this happens, you may still have to pay them something, even though they are not at work.
This is known as 'Statutory Sick Pay' or SSP.
There are other types of statutory payments that you may need to make to your employees should they meet certain criteria. For example, if your employee tells you she is going to have a baby you will need to consider paying Statutory Maternity Pay (SMP).
Partners may also be entitled to receive Statutory Paternity Pay (SPP) or Shared Parental Leave (SPL) and Statutory Shared Parental Pay (ShPP) if they’ve had a baby or adopted a child.
There is also Statutory Adoption Pay for those employees who adopt a child.
Paying expenses and providing benefits to employees
Something else you need to be aware of is the payment of expenses and the provision of benefits to your employees or yourself as a director.
Expenses are payments made to employees to cover business costs that they have met or will meet. Examples include the reimbursement of travel costs that an employee has paid for with their own money when out visiting a customer, and also business mileage payments for any business travel an employee has done using their own private vehicle.
Benefits, sometimes referred to as 'benefits in kind' are, generally speaking, anything you provide to your employee that is not pay or expenses. Common examples include health insurance and the use of a company car.
As an employer, you may have to report details of any expenses and benefits to HMRC and pay tax and National Insurance contributions on them.