PAYROLL NEWS
Payroll news
Employer Bulletin published THE APRIL 2022 issue of the Employer Bulletin can be found here: http://ow.ly/tMzH30shBNP, and provides extensive information for payroll professionals to be aware of. The CIPP would always advise you to read this publication in full. Some of the topics covered in this issue include: ● a reminder that the deadline for applying for a pay as you earn settlement agreement (PSA) is 5 July following the tax year it applies to ● confirmation that the electronic payment deadline of 22 May 2022 falls on a weekend date (a Sunday) , so funds need to be cleared in Her Majesty’s Revenue and Customs’ (HMRC’s) account by 20 May 2022, unless a faster payment can be arranged ● the deadline for reporting any P11D expenses and benefits in kind to HMRC is 6 July 2022 ● confirmation of the official rate of interest for tax year 2022/23 at 2%. This is used to calculate the income tax charge on the benefit of employment-related loans and the taxable benefit of employer-provided living accommodation ● generic notification service messages, sent to employers in relation to student and postgraduate loans ● employer National Insurance contributions reliefs for freeport employers and employers of eligible veterans ● a reminder that the following ended on 5 April 2022: ❍ the cycle to work coronavirus policy easement ❍ the easement for employee home-office expenses ❍ the easement which allowed non-UK resident employees stuck in the UK due to coronavirus travel restrictions not to be taxed on earnings for duties performed in the UK after their planned departure date, provided they were taxed in their home state. Inflation increases to 7% THE OFFICE for National Statistics (ONS) confirmed that the consumer price index (CPI) for March 2022 soared to 7%. This marks an increase of 0.8% from February 2022 and is the highest it’s been since February 1992. The CPI is a measure of the change in the price of good and services over time. The ONS inflation figures can be located here: http://ow.ly/cTF130shCyo.
Northern Ireland redundancy rates and limits THE EMPLOYMENT Rights (Increase of Limits) Order (Northern Ireland) 2022 was made on 22 March 2022 and details the changes to various rates and limits. The figure payroll professionals will be most interested in is the increase to the maximum weekly pay for the purposes of redundancy. This has increased from £566 in 2021/22 to £594 in 2022/23. The relevant legislation is available here: http:// ow.ly/Vrr230shCAx. A new statutory code to prevent ‘fire and rehire’ tactics A NEW statutory code on the practice of ‘fire and rehire’ has been announced in Parliament. The new Statutory Code of Practice will detail how businesses must hold fair, transparent and meaningful consultations on proposed changes to employment terms. ‘Fire and rehire’ refers to the act of dismissing workers, to then immediately re-employ them on less favourable employment terms. The Department for Business, Energy and Industrial Strategy (BEIS) has confirmed it will clamp down on employers who dismiss workers without consultation, and those who ‘fire and rehire’. New digital fit notes FROM APRIL 2022, changes will be made to the fit notes that employees provide to employers to certify sickness-related absence. There will be no longer be the requirement for a doctor to sign the form in ink, and instead the issuer’s name and profession will be included as a digital way of authorising. There will be a period while this is rolled out where the previous version of the fit note, and the new version are both legally valid. The code of practice will clarify the process and steps employers should take when making decisions that affect employees. A court or employment tribunal will consider the code during relevant cases, including unfair dismissal. The courts will be able to apply an uplift of up to 25% of an employee’s compensation if an employer unreasonably fails to comply with the code where it applies. Read the news story from BEIS here: http://ow.ly/ SPS830shCwY.
Diary dates
5 June
Last day of tax month 2
6 June
First day of tax month 3
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
19 May
22 May (this is a weekend date)
Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by electronic method
31 May
Employees on payroll as of 5 April 2022 need to receive their P60s by this date
5 July 6 July
Last day of tax month 3 First day of tax month 4
35
| Professional in Payroll, Pensions and Reward |
Issue 80 | May 2022
Made with FlippingBook - Online magazine maker