Following on from the unveiling of the Spring Budget 2021 on 3 March 2021, the CIPP’s Policy team wanted to ask which of the payroll-related announcements will have the most significant impact on you and your payroll team. A new Quick Poll has been posted on our News Online page which asks exactly that question.
Whilst we already have an idea of which of the items will impact payroll departments the most, we wanted to put the question out there to get a definitive answer.
We appreciate that payroll professionals are extremely busy at present, but the latest Quick Poll will take less than a minute to answer, and we are really grateful to those who take the time to respond. This is your opportunity to feed in to research on the topics impacting payroll professionals, and to have your say.
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Latest Quick Poll results: The extension to the CJRS was the announcement made at Budget that will most substantially impact 75% of payroll
departments 31 March 2021
The CIPP’s latest Quick Poll focused on the content of the Budget, delivered on 3 March 2021, and asked, “Which of the following announcements made at Budget 2021 will impact the work in your payroll department most significantly?”
The answer options were as follows:
The extension to the CJRS
• •
Confirmation of tax rates and thresholds
• Confirmation of National Insurance (NI) thresholds • £3,000 payment for hiring apprentices • The portable apprenticeship programme
Unsurprisingly, it was the news that the Coronavirus Job Retention Scheme (CJRS) would be extended that the majority of respondents selected, at 75%.
The CJRS was due to close at the end of April 2021, following several extensions prompted by the ongoing impacts of coronavirus. Rishi Sunak announced within the Budget that the scheme is now due to close at the end of September 2021, with the level of Government support offered gradually reduced, from 80%, to 70% for claim periods commencing 1 July 2021, and then to 60% for the claim periods of August and September 2021.
This was followed by 18% who felt that the confirmation of the tax rates and thresholds would impact their payroll department the most.
4% confirmed that it was the news that employers hiring apprentices between the dates of 1 April 2021 and 30 September 2021 will be offered £3,000 per new apprentice hire, as opposed to the previous amounts of £1,500 for each new apprentice hire, or £2,000 where that apprentice was below the age of 25.
3% stated that the confirmation of the NI thresholds would affect the work of their payroll departments most significantly, and 2% felt that news of the portable apprenticeship programme would have the biggest impact.
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New Quick Poll: Do you issue P11Ds, payroll benefits, or both? 31 March 2021
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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