`The Chartered Institute of Payroll Professionals
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PAYE variable payment plan delayed Published: 21 September 2022 Emailed: 28 September 2022
In the August issue of HM Revenue and Customs’ (HMRC’s) Employer Bulletin, it was announced that a direct debit service would be implemented for PAYE customers.
The start date that customers can sign up for this service has now been delayed until 3 October 2022. The bulletin page has been updated tor reflect this and contains further information on the service.
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Breaking News: National Insurance increase reversed from 6 November 2022
Published: 22 September 2022 Emailed: 28 September 2022
Kwasi Kwarteng has today announced that the 1.25 percentage point increase to National Insurance (NI) will be reversed from 6 November 2022.
In addition to the reversal of this year’s increase to NI, next year’s health and social care levy will be repeal ed. The separate tax, planned to come into force in April 2023, would have replaced this year’s NI rise.
The Health and Social Care Levy (Repeal) Bill has been introduced to the house today. The changes will take place from 6 November 2022, payments made in relation of earnings before that date will remain at the increased rate and no refund need be made.
The chancellor is expected to confirm that increases to dividend tax rates are also to be revoked in tomorrow’s growth plan.
The chancellor has confirmed funding for the health and social care services will be protected and remain at the same level as if the levy were retained.
This change will see 920,000 business pay less in NI and 20,000 stop paying NI all together. The government estimates that this will save individuals £330 on average for 2022-23 and £135 for the rest of this tax year.
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CIPP Growth Plan (mini budget) summary Published: 23 September 2022 Emailed: 28 September 2022
The CIPP has produced a summary of the Growth Plan announced by chancellor of the Exchequer, Kwasi Kwarteng. In the summary we explore the changes announced and what they mean for payroll professionals.
The wide range of changes are to be introduced with the key aim of promoting growth across the UK. The headline changes for payroll are:
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Reversal of the National Insurance increase for 2022-23
cipp.org.uk
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