`The Chartered Institute of Payroll Professionals
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Inflation hits 9% in the year up to April 2022 Published: 19 May 2022 Emailed: 25 May 2022
The Office of National Statistics (ONS) has released the consumer price inflation indices for April 2022. The Consumer Price Index (CPI) has risen 2% up to 9% for the year up to April 2022.
The biggest driver for the change is the increase to gas, electricity and other fuel prices following Ofgem’s increase of the consumer price cap.
The bank of England set the base rate with the aim of keeping inflation to a targeted 2%. The base rate was recently increased to 1% on 5 May 2022. There has been a rapid succession of increases to the base rate since 16 December 2021, where it previously sat at 0.10%. The bank of England may need to further increase these rates in order to tackle inflation, but will it be enough to stem the cost of living crisis as it currently stands?
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Administrative Burdens Advisory Board: Tax systems survey Published: 20 May 2022 Emailed: 25 May 2022
The Administrative Burdens Advisory Board (ABAB) has released the Tell ABAB Survey 2022, to gather feedback from small businesses regarding the current tax system.
ABAB is an independent board representing small businesses. It was established in 2006 to provide insights and feedback to Her Majesty's Revenue and Customs (HMRC), regarding the administration of tax. They work with HMRC, giving expert advice and challenge HMRC’s performance by highlighting areas of improvement. ABAB aims to make the tax system easier, quicker and simpler in order to lessen the administrative burden for small businesses.
This survey will inform ABAB and provide vital feedback so that the tax system can improve. It only takes 5 - 10 minutes to complete and is open till 4 June 2022. The findings fro m the survey will be published in the ‘Tell ABAB Report’ this summer.
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Will your organisation be taking part in the 4-day week pilot programme? Published: 8 June 2022 Emailed: 8 June 2022 4 Day Week Global is piloting a coordinated, 6-month trial in the UK, where employees will work a four-day working week, with no loss in pay. Similar schemes are already taking place in Australia, New Zealand, Ireland, the United States and Canada. The 6-month trial period will be taking place from June to November 2022. Employers will have unparalleled access to the expertise, tools and resources you will need to run a smooth and successful trial. By taking part of the trial, employers will receive access to:
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workshops to help with common challenges, pitfalls and misconceptions.
Mentoring from experts.
Networking which acts as support to share learnings and experiences.
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