PAYROLL NEWS
Payroll news
Liz Truss becomes prime minister ON 5 SEPTEMBER 2022, it was announced that Liz Truss would become the next prime minister, replacing Boris Johnson. While this may not seem like specifically payroll-related news, it is, because this could have a substantial impact on the work payroll professionals carry out. Truss pledged, in the leadership campaign, to reverse the health and social care levy (implemented as an increase to National Insurance (NI) in 2022/23), from day one. At the time of writing, no further detail has been provided, but to reverse the hike this tax year would mean there have been no less than three changes to NI in the current tax year. The CIPP will, of course, provide any updates as and when we have them, so keep your eyes out in our News Online .
The Trade Union Congress calls for a £15 minimum wage THE TRADE Union Congress (TUC) has released a report, which provides a breakdown of the steps required to reach a minimum wage of £15.
The report calls for a ‘macroeconomic approach’ to boost growth, which would bring median wages up to £20 an hour.
This is the underpinning of the £15 minimum wage, which would be 75% of median wages. This is higher than the Low Pay Commission’s (LPC’s) current ambition of reaching two thirds of median pay by 2024. The TUC is also calling for the minimum wage uprating to take place in October (it normally happens in April), and for it to be increased by at least the rate of inflation. The report can be read in full here: http://ow.ly/MTPo50KRmOJ.
Ensure HMRC communications are genuine UNFORTUNATELY, THE number of scams currently in circulation seem to be
higher than ever. HM Revenue and Customs (HMRC) issues communications in a variety of ways, but scammers have been using fake HMRC letters and calls to attempt to commit fraud. To help tackle this problem, HMRC publishes a list of its current communication campaigns, which can be located here: http://
Kwasi Kwarteng becomes chancellor of the Exchequer KWASI KWARTENG has replaced Nadim Zahawi as chancellor of the Exchequer. Zahawi became chancellor in July 2022, after Rishi Sunak resigned. Kwarteng will be responsible for delivering budgets, one of which (at the time of writing), we expect to see soon. This will lay out the government’s plans, including the potential abolition of the health and social care levy.
ow.ly/NOhu50KRmG7. This will help individuals to determine if a suspicious email, letter or call is actually a scam. The list details: l the communication methods used for each campaign l the information you’ll be provided with l what information (if any) is requested from you.
Where communications are received that aren’t listed, which appear to be scams, they should be reported to HMRC for further investigation. This can be done here: http://ow.ly/p5W550KRmL9.
Diary dates
5 October 6 October
Last day of tax month 6 First day of tax month 7
Last day for submitting a real time information employer payment summary to apply to tax month 6 Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic method Deadline for payment of PAYE and NICs under a PAYE Settlement Agreement (PSA) by non-electronic method Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic method Deadline for payment of PAYE and NICs under a PSA by electronic method
19 October
22 October (this is a weekend date)
5 November
Last day of tax month 7
6 November
First day of tax month 8
| Professional in Payroll, Pensions and Reward | October 2022 | Issue 84 6
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