Payroll news
Special Interest Groups (SIGs) The CIPP specialist interest groups offer the opportunity to network, learn and share experiences, queries and concerns with like-minded professionals.
Payroll news
SAYE savings holiday THE SIX-MONTH extension to the SAYE (save as you earn) savings holiday for employees on qualifying parental leave, which was due to take effect from 6 April 2018, has been postponed allowing plan-providers and administrators time to make and test system changes. The government has also announced that the SAYE savings holiday will now be extended to twelve months for all SAYE plans, not just those with qualifying parental leave. This change will take effect on 1 September 2018. HM Revenue & Customs (HMRC) will update the SAYE prospectus and guidance in its Employee Tax Advantaged Share Scheme User Manual (https://bit.ly/1RsCuoC) to reflect these changes. National minimum wage THE LOW Pay Commission wants to hear from employers, workers and their representatives on the problem of one-sided flexibility where workers are on a zero- or short-hours contract. The idea is that a higher minimum wage for non-guaranteed hours would compensate employees while encouraging employers to offer more predictable and stable work schedules. The Commission will also consider any ideas that may lead to the same or better outcome. The consultation (see https://bit.ly/2oN7B8b) closes on 1 June 2018. And briefly… l Prefix C tax codes – It has recently been confirmed by HMRC that a Welsh taxpayer’s tax code will be prefixed ‘C’. From April 2019, the National Assembly for Wales will, like the Scottish parliament, be able to vary the rates of income tax payable by Welsh taxpayers. It is presumed that ‘C’ is for Cymru, the Welsh name for Wales. l Parental Bereavement Pay and Leave Bill – The report stage of this private member’s bill is scheduled for 11 May 2018. As preparation, the government has launched a consultation exercise (https://bit.ly/2uuaZKE) that will run until 8 June 2018. The Bill provides entitlement to a minimum of two weeks’ leave for employed parents who lose a child under the age of eighteen irrespective of their length of employment service, with pay subject to qualifying conditions. l Employer Bulletin - Issue 71 (April 2018) (https://bit.ly/2HiPGB4) includes articles on a wide range of payroll topics. Increase of limits THE EMPLOYMENT Rights (Increase of Limits) (No. 2) Order (Northern Ireland) 2018 revised the limits on awards and payments under certain employment rights legislation in Northern Ireland with effect from 6 April 2018. l Guarantee payment – The limit on amount of guarantee payment payable to an employee in respect of any day increases to £28.00. l Week’s pay – The maximum amount of ‘a week’s pay’ for the purpose of calculating a redundancy payment or for various awards including the basic or additional award of compensation for unfair dismissal, increases to £530.
Diary dates
Join the specialist interest groups at: Visit: cipp.org.uk Email: info@cipp.org.uk Call: 0121 712 1000 Live chat with us
5 May
Last day of tax month 1
6 May
First day of tax month 2
Last day for submitting a real time information employer payment summary to apply to tax month 1 Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non- electronic method Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by electronic method
19 May
22 May
31 May
Due date by which employees are to receive P60 certificate for tax year 2017–18
cipp.org.uk @CIPP_UK
23
Issue 40 | May 2018
| Professional in Payroll, Pensions and Reward |
*correct at time of publication
Made with FlippingBook - Online magazine maker