Payroll
how to implement new requirements. By staying connected with these primary sources, payroll professionals can anticipate and prepare for changes before they take effect. HMRC has a multitude of regular webinars on topics of interest which are also available on demand “Engaging with a community of professionals ensures payroll professionals are not navigating changes alone but are part of a collective effort to adapt and thrive” Engaging with professional organisations Membership of professional organisations like the CIPP can be invaluable. These bodies offer a wealth of resources, including training programmes, webinars and conferences, which are specifically designed to help payroll professionals stay informed about industry developments. Professional bodies often provide summaries and analyses of legislative changes, breaking down complex regulations into understandable language and practical steps. Engaging with these organisations also offers networking opportunities, allowing professionals to share insights and strategies for managing changes. Advancing technology Technological advancements have revolutionised the way payroll is managed. Modern payroll software often includes features that help professionals stay compliant with the latest regulations. These systems are regularly updated to reflect legislative changes, reducing the risk of errors and ensuring payroll calculations are accurate and compliant. Cloud-based payroll systems offer additional benefits, such as real-time updates and enhanced security. They enable payroll professionals to access
information from anywhere, which is particularly useful in a world where remote work is increasingly common. Automation and artificial intelligence can handle repetitive tasks and complex calculations, freeing up time for professionals to focus on more strategic aspects of payroll management.
cross-border employment, taxation and social security. Ensure you stay informed. While we rely on the tax and global mobility team to keep us up to date on ongoing negotiations and new agreements between the UK and the European Union (EU), payroll team also keep an eye on this. This also applies to cross border work and new rules for EU nationals working in the UK and vice versa, including visa requirements, tax implications and social security contributions. HMRC and professional bodies update their guidance based on the latest developments. Getting expert help is also a good idea. Sometimes it’s worth consulting other payroll experts or legal advisers to navigate the post-Brexit landscape. “Sometimes it’s worth consulting other payroll experts or legal advisers to navigate the post- Brexit landscape” Adapting to remote flexible working trends The shift towards remote and flexible working has added new challenges to payroll management, such as managing different tax implications and ensuring compliance across various locations. The global mobility and tax teams are responsible for developing clear and compliant policies for remote and flexible working, covering expenses, time tracking and data security while ensuring the correct input is provided to payroll for processing.
Continuous professional development (CPD)
The fast pace of change in payroll means we must keep learning. Participating in training courses, attending webinars and joining workshops ensures we are always up to speed with the latest regulations and best practices. Professional bodies often offer certification programmes which include CPD components. These programmes ensure that we’re not only aware of the latest changes but also understand how to apply them in practice. Regularly updating our skills and knowledge through CPD helps maintain a high standard of professional competence. Connecting with industry peers Being part of a community of payroll professionals can be incredibly helpful. These communities can offer practical advice, share experiences and provide solutions to common challenges. Examples include: l online communities. Join forums and online communities, like those on LinkedIn, where you can connect with like- minded payroll professionals over shared experience l local meetings. Participate in local chapters of professional bodies and attend meetups to connect with peers in your area l mentorship programmes. Engage in mentorship programmes to learn from experienced professionals and help those new to the field l networking events and conferences. These are also valuable and offer opportunities to hear from industry experts, learn about emerging trends, and gain insights into future developments. Engaging with a community of professionals ensures payroll professionals are not navigating changes alone but are part of a collective effort to adapt and thrive. Handling Brexit changes Brexit has added a whole new layer of complexity to UK payroll, especially with
Embracing change Staying current in the ever-evolving
field of UK payroll legislation requires a proactive approach, leveraging technology, continuous learning and staying informed of critical changes. By adopting these practices, payroll professionals can ensure compliance, enhance efficiency and remain resilient in the face of ongoing changes, positioning themselves as indispensable assets to their organisations. Embrace change as an opportunity for growth and improvement, as you will be well-equipped to handle whatever challenges the payroll industry throws your way. n
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| Professional in Payroll, Pensions and Reward |
Issue 103 | September 2024
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