New HMRC webinars: Payroll year end and the new tax year 16 March 2021
As the current tax year comes to an end, and the new one commences from 6 April 2021, HMRC is running a couple of new webinars, designed to help employers with the year-end process, and to prepare them for anything new for tax year 2021-22. The ‘Employers – what’s new for 2021 to 2022’ webinar can be accessed online, and will run on a number of dates throughout March 2021. The aim of the webinar is to provide employers with an overview of the key payroll changes to be aware of, from April 2021.
There is also a ‘Payroll: annual reports and tasks’ webinar, which discusses how employers should approach tax year end, in terms of:
Submitting final payment submissions
• •
Issuing P60s
• Setting up payroll records for the new tax year
There will be several live webinars, again, all of which will run throughout March 2021.
In each of the webinars, there will be the opportunity to ask questions by using the on-screen textbox.
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Guidance on rates and thresholds for 2021-22 updated 18 March 2021
In preparation for the start of tax year 2021-22, HMRC has updated the guidance page which details the rates and thresholds for employers to use when operating their payrolls or when providing expenses and benefits to their employees.
Payroll professionals should familiarise themselves with the figures provided within the guidance and should refer back to it if ever in any doubt about rates or thresholds.
The guide covers details of:
• PAYE tax and Class 1 National Insurance (NI) contributions • Tax thresholds, rates, and codes • Class 1 National Insurance (NI) thresholds and rates • Class 1A NI: expenses and benefits • Class 1A NI: termination awards and sporting testimonial payments • Class 1B NI: PAYE Settlement Agreements (PSAs) • National Minimum Wage (NMW) • Statutory Maternity, Paternity, Adoption, Shared Parental and Parental Bereavement Pay • Statutory Sick Pay (SSP) • Student loan and postgraduate loan recovery • Company cars: advisory fuel rates • Employee vehicles: mileage allowance payments • Employment Allowance • Apprenticeship Levy
The full guidance is available here.
CIPP comment
If you are a member of the CIPP (associate and above), then you will receive the Tax pack, which includes the reference book, fact card and pen. You will also be able to download the fact app, and the fact card will be included
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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