Back to Contents
Work & Pensions secretary appointed 20 November 2018
The former secretary Amber Rudd has been appointed as the new Work & Pensions secretary. She becomes the sixth work & pensions secretary in less than three years.
Amber Rudd will take on several key pension policy areas, the pensions dashboard, defined benefit consolidation as well as implementing Universal Credit. Universal credit replaces six existing benefits – employment support allowance, income support, income-based jobseeker’s allowance, housing benefit, working tax credit and child tax credit – with a single payment.
Read more in Pension Age
Back to Contents
HM Treasury publish November 2018 Preston factors 30 November 2018
The latest addition to the Preston Guidance collection has been published by HM Treasury.
Following the European Court of Justice and House of Lords’ rulings in 2000/2001 in favour of part-timers gaining retrospective access to occupational pension schemes, provided they meet the necessary legal requirements, the Preston factors (earnings and interest factors) are provided for employers which are used to provide those entitled to reinstatement, an opportunity to gain pension service at no cost to them, which as far as possible makes these individuals no better and no worse off than if they had paid contributions to the scheme when they were originally employed.
Back to Contents
Administration of Scottish Income Tax 2017-18 3 December 2018
The National Audit Office (NAO) have published their report detailing their findings on the Administration of Scottish Income Tax 2017-18 by HM Revenue & Customs (HMRC).
The NAO report considered:
• HMRC’s calculation of the 2016-17 income tax revenue attributable to Scotland and provides assurance on the correctness of the amounts brought to account; • HMRC’s estimation of the 2017-18 income tax revenue attributable to Scotland and the NAO view on the methodology used to estimate the amount; • key controls operated by HMRC in the assessment and collection of Scottish income tax; • HMRC’s approach to assessing and mitigating the risk of non-compliance with Scottish rate provisions; and • the cost of administering Scottish income tax and provides assurance on whether the amounts are accurate and fair in the context of the costs incurred by HMRC.
Findings:
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 290 of 598
Made with FlippingBook - Online magazine maker