The Chartered Institute of Payroll Professionals
News On Line
The LPC must gather evidence, monitor and evaluate on the NMW and NLW rates, accommodation offset and the governments levelling up agenda and provide their report by the end of October 2022. This will inform the government ahead of announcing the rates for the 2023/24 tax year.
Back to contents
Spring Statement factsheets 24 March 2022
The upcoming changes to tax and National Insurance announced in the spring statement have been a surprise to all but have left some with questions about the details of how the changes will be implemented.
One technicality which people have questions about is regarding the application of the new primary threshold for national insurance to Directors who pay National Insurance on an annual basis. It should be noted that for 2022/23, the annual threshold will not be £12570, as the uplift is only applicable from July 2022. As a result, the annual primary threshold for 2022/23 will be £11,908 (13 weeks at £9,880 and 39 weeks of £12,570).
HM Treasury has prepared a Business Support Factsheet and a Personal Tax Factsheet which summarise the details for businesses and personal tax respectively. CIPP members have the option to address more intricate and nuanced queries to the CIPP’s advisory service.
Back to contents
Northern Ireland extends SSP provisions 28 March 2022
The Coronavirus Act 2020 (Extension of Provisions Relating to Statutory Sick Pay) Order (Northern Ireland) 2022 was made on 23 March 2022. This Statutory Rule sets Northern Ireland apart from the rest of the UK when it comes to SSP rules, as this is a devolved responsibility. From 25 March 2022, SSP rules reverted to normal in the UK, being paid after the third qualifying day of illness, regardless of the sickness reason. Northern Ireland will retain the rules that allowed those with coronavirus to be eligible from day one. This will remain in place until 24 September 2022.
The SSP rules should apply based on where the employee conducts their work. While there is an overlap in how the rules are applied, employers must be vigilant to remain compliant.
Back to contents
Breaking payroll news from the Spring Statement 23 March 2022
Chancellor, Rishi Sunak, delivered the Spring Statement on 23 March 2022. Within it were several announcements that payroll professionals should ensure they are aware of.
The first piece of headline news centred on National Insurance (NI). By July 2022, the threshold at which individuals begin paying NI will be aligned with that of income tax. This means that the primary threshold will be set at £12,570.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 73 of 220
Made with FlippingBook - Online magazine maker