CIPP Budget 2020 Summary 12 March 2020
The CIPP Policy team has produced a summary of the key items that will impact on payroll, pensions and general business activity from the Chancellor’s Budget 2020.
The Chancellor provided further guidance surrounding the payment of Statutory Sick Pay for individuals solely affected by Covid-19 and in instances where they are advised to self-isolate. We already knew that SSP would be payable from day one of absence, and the Budget confirmed that, for employers with 250 or less staff, the government would refund their SSP bill for a maximum period of two weeks. The Chancellor also announced that Employment Allowance would increase from £3,000 to £4,000 for eligible employers, there would be a National Insurance holiday for companies employing veterans, and that the tapered annual allowance would increase by a substantial £90,000.
The Budget document can be found here, and summarises the points that will be of most interest to those within the payroll profession.
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The CIPP’s Budget webcast now available 20 March 2020
The CIPP’s Budget webcast is now available online and provides an overview of the key details for payroll professionals to familiarise themselves with, for the new tax year and beyond.
Since Rishi Suank’s delivery of the Budget, there have been some significant changes, and so the webcast has been adjusted to incorporate any relevant updates, to ensure that our members are kept as up to date as possible.
Tune in now to hear discussion of the government’s contingency plans for tackling the outbreak of COVID-19, and the relevant support on offer for both businesses and individuals, the surprise announcement relating to the delay to controversial IR35 reforms, last minute amendments to the Employment Allowance and much, much more….. Whoever said payroll was boring?!
The webcast runs for a duration of just half an hour, and provides the fundamental information for payrollers to equip themselves with for the tax year ahead, and any legislative updates that have been announced.
Listen to the CIPP’s Budget webcast here.
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The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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