The Chartered Institute of Payroll Professionals
News On Line
contributions will be subject to an increase of 1.25% in the contribution percentage rate. Below is a table comparing the current rates to the new ones.
Rate
Current rate
2022-23 rate
Main employee rate
12%
13.25%
Married women’s rate
5.85%
7.1%
Deferred rate
2%
3.25%
Rate on employee’s earnings above UEL
2%
3.25%
Main employer rate
13.8%
15.05%
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Agent Update 94 - March 2022 18 March 2022
Issue 94 of Her Majesty’s Revenue and Customs’ (HMRC) Agent Update has been released. Here are some of the important points made for payroll. For further details please read the full release.
• Covid related Statutory Sick Pay Rebate Scheme closed on 17 March 2022. The last date claims can be submitted for absence periods up to this date is 24 March 2022 • End of tax and NI exemption for reimbursement of covid related home-working expenses for employees who were required to work from home on 5 April 2022 • Non-UK residents who were stuck in UK due to covid travel restrictions working after their planned departure date to be taxed as usual from 6 April 2022 • Changes to reporting CIS deductions on EPS to reduce PAYE liability – From April 2022, the company’s COTAX - Corporation Tax Unique Taxpayer Reference (UTR) must be entered in an additional field in the EPS or will be rejected • Plan 4 Scottish Student Loans to be included on Self-Assessment tax returns from April 2022 • Cycle scheme eligibility requirements to revert to including ‘qualifying journeys’ condition from 5 April 2022.
The update also includes important tax and self-assessment information that may be of interest to agents.
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Employer provided or reimbursed coronavirus tests will not be taxable for a further year 18 March 2022
The Finance Act 2021 (Modification of Section 26) (Coronavirus) Regulations 2022 extends the easement on income tax arising from coronavirus testing. This applies to both employer provided and employer reimbursed tests.
Under general rules, employer provided tests would be taxable as a Benefit in Kind (BiK) and attract tax and National Insurance Contributions (NIC). The provision for NICs has been regulated in a separate provision.
The test the legislation refers to mustn't be an antibody test and should be carried out to detect viral antigens/viral ribo- nucleic acid (RNA). The law initially applied in the United Kingdom during the 2020/21 tax year but was extended for 2021/22.
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The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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