JETS is backed by a £2.7 million investment in Scotland, which is in addition to the £8.6 billion already provided to Scotland by the UK Government as part of its comprehensive response to the pandemic.
JETS is aimed at individuals who have been out of work for three months or more. The Department for Work and Pensions (DWP) will increase support for claimants to ensure that jobseekers have access to help that is tailored to their needs, to get them back into employment quickly.
Specialist advice will also be delivered to jobseekers in relation to how they can move into those sectors where jobs are available, in addition to CV and interview guidance.
More than 40,000 jobseekers were referred to the programme in its first 50 days, when it was launched in October 2020 in England and Wales, which equates to approximately 800 per day.
More information about the JETS Programme is available online.
Back to Contents
The Finance Bill 2021 has now been published 12 March 2021
The Finance Bill 2021 has been published today, 11 March, which legislates the tax changes announced within the Budget.
The Bill will ensure that several tax changes set out by the Chancellor at last week’s Budget will take effect from the start of the next tax, 6 April 2021.
The Bill includes:
•
The extension of the stamp duty holiday
• Extending the VAT cut for tourism and hospitality to September 2021 • Increasing the rate of Corporation Tax to 25% on profits over £250,000 from April 2023. It is estimated that over 90% of businesses will pay less than the 25%. • Maintaining Income Tax Personal Allowance and Higher Rate Threshold at 2021 levels • Keeping the Capital Gains Tax Annual Exempt Amount (AEA), the inheritance tax nil-rate band and the pensions Lifetime Allowance at their current levels • The ‘super deduction’ which will run from 1 April 2021 until 31 March 2023 • Supporting the introduction of Freeports through allowing the government to designate ‘tax sites’ in Freeports in Great Britain, where businesses will be able to benefit from a number of tax reliefs • Changes to the off-payroll working rules
The Bill also supports to deliver a fairer and more sustainable tax system as well through legislating to:
• Implement a Plastic Packaging Tax which encourages the use of recycled plastic instead of new plastic within packaging. The rate of the tax is £200 per tonne of plastic packaging which contains less than 30% recycled plastic content. • Reform the penalty regime for VAT and Income Tax Self-Assessment (ITSA) to make it fairer and more consistent.
The Bill will now follow the normal passage through parliament.
The full contents of the 2021 Finance Bill can be found here.
Back to Contents
The Queen’s Speech to be held on 11 May 2021
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 369 of 590
Made with FlippingBook - Online magazine maker