According to the Chancellor’s tweet:
“I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy.”
CIPP comment The Chancellor said he was “pleased to announce the Budget will take place on 29 October…” - we too are certainly pleased that he did and we welcome the earlier than anticipated date. We voiced our concerns this week about the delay in providing a Budget date, not least because the details of any changes to processes for payroll and pensions payroll must be provided well ahead of the start of the 2019-20 tax year to allow software developers to make necessary amendments.
Announcing the Budget on a Monday is certainly a shift from the normal mid-week statements and according to BBC News a Treasury spokesman said that it also fits in with ministers’ availability and official data releases.
The CIPP Policy team will provide live coverage on Twitter during the Budget announcement and will also provide a concise summary after the event detailing all the ‘need to know’ information relevant for payroll, pensions and reward.
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Ban for payroll company boss who failed to keep proper records 28 September 2018
The director of a payroll processing company has been disqualified for 7 years after failing to ensure the company kept proper books and records.
On 4 January 2016 John Thomas Hanbury was appointed a director of Crownsbury Limited, before the company operated a payroll processing bureau, which it had not done prior to his appointment.
However, the company entered into Administration on 18 July 2016 and the Insolvency Service’s subsequent investigation found that between 4 January and 18 July 2016, John Hanbury failed to ensure Crownsbury maintained and/or preserved adequate accounting records. He also failed to deliver adequate accounting records to the Joint Administrators when required to do so. As a result, it has not been possible to verify what the company’s income and expenditure was after 3 May 2016 – the date its bank account was closed. Further investigations found that it was not possible to determine the reason for receipts totalling £7,849 received between 24 March 2016 and 8 April 2016 into Crownsbury’s bank account from a connected company, of which John Hanbury is a director, as well as determining the reason for a receipt of £520,000 into Crownsbury’s bank account on 15 April 2016.
There were numerous other payments out of the company’s bank account for which no proper explanation or verification could be found.
Anthea Simpson, Chief Investigator for the Insolvency Service, said:
“Directors have a duty to ensure their companies maintain proper accounting records, and, following insolvency, deliver them to the office-holder in the interests of fairness and transparency.
Without a full account of transactions it is impossible to determine whether a director has discharged his duties properly, or is using a lack of documentation as a cloak for impropriety.”
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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