Policy hub
...a new employer class 1 National Insurance contributions (NICs) relief will be available for all eligible employees in freeport sites.
a tax site is designated. The initial proposal is that this will be in place until April 2026 at the earliest but could potentially be extended up until April 2031. A review of the relief will determine whether the policy is extended or not. The government intends to create eight new freeports in England, as follows: Liverpool City Region Freeport, Teesside Freeport, Humber Freeport, East Midlands Airport Freeport, Felixstowe and Harwich (Freeport East), Solent Freeport, Thames Freeport, and Plymouth and South Devon Freeport. Discussions are currently being held between the UK government and the devolved administrations in relation to the creation of freeports in Scotland, Wales and Northern Ireland. n
consultation exercises and calls for evidence are typically published on Budget day, but this year has been different. The rationale behind this departure from the usual practice is to ensure that sufficient consideration can be given to the documents, which may previously have been overshadowed by headline announcements made on Budget day. A series of consultations and calls for evidence were expected to be published on tax day by various government departments. It was envisaged that a significant number of the documents will focus on the future of the tax system, with particular emphasis placed on the government’s ten-year tax administration strategy (http://ow.ly/UVpG30rA64b). The policy team will provide information on the content and effect of the proposals via the usual communication channels. Also this year, ahead of the Budget
there did not appear to be the usual period of purdah, which is the time during which civil servants refrain from discussing any matters that may have relevance to the impending Budget. Employer NICs relief for freeport employments The 2021 Budget’s supporting documents (http://ow.ly/nH6e30rA69D) confirm that, subject to Parliamentary approval, a new employer class 1 National Insurance contributions (NICs) relief will be available for all eligible employees in freeport sites. These ports are areas of the UK that fall outside of the country’s customs territory, which means that goods can be manufactured, imported, and exported inside the zones without tariffs being applied. The employer NICs relief will commence from April 2022 or later when
BeConnected: National Forums Delivered by our policy officers, Gemma Mullis and Lora Murphy, these BeConnected: National Forums are the perfect way to understand how recent changes will affect your and your team’s day to day roles. We’ll keep you up to date on any changes and updates revealed in the March 2021 budget and also tell you how you’ll need to implement and process these changes.
Launch date 27 April
Now open to all current CIPP members.
Additional dates: 6 May, 12 May, 20 May, 26 May.
Visit cipp.org.uk/events/events-calendar , to book your place and find out more.
cipp.org.uk
@CIPP_UK
11
| Professional in Payroll, Pensions and Reward |
Issue 69 | April 2021
Made with FlippingBook - Online magazine maker