24 August 2020
In recognition of the fact that there will be a new Scottish Student Loan repayment plan – repayment plan four, from 6 April 2021, and that a draft Starter Checklist form has been compiled, to include this new repayment plan type, the CIPP’s Policy and Research team has put together a brief webcast on the topic of Student Loans, and it is now available for you to watch. The webcast, which is approximately seven minutes long, discusses the operation of the Student Loan, a new Scottish Student Loan plan, the new draft Starter Checklist form, and also details what the thresholds for Student Loans for tax year 2021-22 will be, following on from the recent announcement from the Department for Education (DfE).
If you are looking for a quick and easy way to update yourself with the latest developments relating to the Student Loan, then this webcast is ideal for you.
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Quick Poll results: 76% of businesses hoping to use the Job Retention Bonus confirm that it will have no impact on their immediate employment plans 28 August 2020 Following on from the previous Quick Poll question, which asked if companies were intending to make use of the Job Retention Bonus, the CIPP’s Policy and Research team wanted to explore further and to ask additional questions about the bonus. The follow up question that was posed, asked whether, for those businesses planning to utilise the Job Retention Bonus, the bonus was having an effect on any of the imminent employment plans of businesses. The results are now here! The resounding answer was no, with 76% of responses confirming that use of the Job Retention Bonus would have no effect on the imminent employment plans of businesses. The remaining 24% stated that the Job Retention Bonus would result in a reduced level of immediate redundancies. The one-off payment of £1,000 per eligible employee was announced within Rishi Sunak’s Summer Economic Statement, and was introduced with the aim of encouraging businesses to take employees off furlough, once the Coronavirus Job Retention Scheme (CJRS) closes at the end of October, and to get them back into work. Guidance on the Job Retention Bonus can be found here, and it has been confirmed that more detailed information will be published in September 2020.
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New Quick Poll: Process changes due to eligibility criteria for the Job Retention Bonus 28 August 2020 In the final of a series of Quick Poll questions that ask about the Job Retention Bonus, the CIPP’s Policy and Research team wanted to establish whether or not businesses have had to alter their processes in any way to ensure they meet the eligibility criteria for the Job Retention Bonus. HMRC has made it clear that, in order to qualify for the Job Retention Bonus, businesses must ensure that all employee records are up-to-date and accurate, with particular emphasis on the correct employee details and wages being reported to HMRC via Full Payment Submissions (FPS). The guidance page on the bonus also makes reference
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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