HOT TOPIC
A rollercoaster ride for payroll professionals
The CIPP’s policy and research team discuss the huge announcements made by chancellor, Jeremy Hunt, on 17 October 2022
T he original ‘hot topic’ article that payroll-related news delivered in previous chancellor, Kwasi Kwarteng’s, ‘Growth Plan’, held on 23 September 2022. However, most of the news is now out of date, as payroll professionals must deal with increasing uncertainty regarding various policies. Of note for payroll professionals, Jeremy Hunt announced: was scheduled for inclusion in this issue of Professional covered all the l the scheduled abolition of the increase to National Insurance of 1.25 percentage points will go ahead, and the health and social care levy won’t be introduced as a separate tax in tax year 2023/24 l the plan to cut the basic rate of income tax from 20% to 19% from April 2023 will no longer happen, and the rate will remain at 20% until economic conditions allow for it to be cut l the repeals to the 2017 and 2021 off payroll working rules will no longer go ahead. The rules will remain in place. This is in addition to the previously announced U-turn on removing the 45%
| Professional in Payroll, Pensions and Reward | November 2022 | Issue 85 56
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