Do your employees know about Childcare Choices? 15 June 2017
Now that Election Purdah is lifted and the business of Government slowly returns. HMRC are keen to ensure that word spreads about the new Childcare Choices website .
In addition to detailing free childcare provision available to working parents in England the Childcare choices website provides working parents will an opportunity to review whether tax free childcare (TFC) is for them. TFC cannot be claimed alongside the provision of employer childcare vouchers, claims through Universal Credit or Tax Credits for Childcare.
TFC when rolled out in full is aimed at providing support to working families, including the self-employed, in the UK who have children under 12 (or under 17 if disabled).
For every £8 you pay in, you will receive a £2 top up to the account, up to £2,000 per child. This process in no way impacts on income tax calculations as the title might suggest.
Parents of children who will be under 4 on 31st August, and parents of disabled children, can apply now and other parents can register their interest and will be emailed when they are able to apply.
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31.95 million people now in work 16 June 2017
If you were thinking that tax and employment policy and together with increasing compliance burden was the source of your increased workload the latest statistics from the Office of National Statistics (ONS) might have identified the true root cause.
According to the ONS , the employment rate is at a joint record high of 74.8%, with 31.95 million people now in work – an increase of 372,000 on the year.
This rise, it is reported, has been driven by full time work with average weekly earnings up by 2.1% including bonuses. Meanwhile there are 50,000 fewer unemployed people with unemployment remaining at its lowest rate since 1975 at 4.6%.
Secretary of State for Work and Pensions, David Gauke said:
“This government wants to give everyone the opportunity to succeed, regardless of where they live or their background.
This is yet another strong set of record-breaking figures with employment up and unemployment down, fuelled by full- time opportunities.
This is good news for families as we continue to build a stronger, fairer Britain.”
ONS figures also reveal:
that female employment rate is at a joint record high of 70.2%, with nearly 15 million women in work the unemployment rate for 18 to 24 year olds who have left full time education is 10.7% – a joint record low there are around 770,000 vacancies in the economy at any one time
UK labour Market statistics for June 2017 can be accessed from the ONS website .
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The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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