PAYROLL NEWS
PAYROLL news
HM Treasury’s Financial Inclusion Strategy Pay professionals know that financial literacy, education and support are imperative in supporting individuals. The Government plays its part in supporting these aims, and HM Treasury’s Financial Inclusion Strategy (https://ow.ly/9Hew50Xqto3) discusses just that. The paper focusses on six key areas: 1. Digital inclusion and access to banking. 2. Support for savings. 3. Financial resilience through insurance. 4. Access to affordable credit. 5. Tackling problem debt. 6. Financial education and capability. Of most interest to the pay professions is arguably the section centring on ‘Support for savings’, and this examines research carried out by Nest Insights and other organisations. A key case study by SUEZ UK is included in the paper, something which was discussed at length at the CIPP’s Annual Conference and Exhibition in 2024. The next steps in this space, as confirmed by HM Treasury, are as follows: l to help promote uptake, the Financial Conduct Authority has published a landmark regulatory statement to give employers and savings providers the clarity and confidence they need to offer workplace savings as a valuable benefit to their employees l the Money and Pensions Advice Service (MaPS), the Investing and Saving Alliance and Nest Insight will bring together a national coalition of employers to further encourage the take-up of payroll savings l the Department for Work and Pensions has provided further funding for the next phase of research by Nest Insight into savings for self- employed people l MaPS has updated its ‘Savings Charter’, which sets out a series of commitments for savings providers. The objectives set out in the strategy will be reviewed two years on from the publication date, and updates will be provided as to their progress. The CIPP’s policy and research team is part of HM Treasury’s Financial Inclusion Panel and will continue to feed into this important work. The HMRC app HM Revenue and Customs (HMRC) has been promoting the use of the ‘HMRC app’, and guidance on how to download it can be found here: https://ow.ly/GHCB50Xqtix. At the time of writing, it has been confirmed that more than 5.6 million people have used the app, including 4.14 million who’ve used it to check their pay as you earn or ‘PAYE’ information and nearly two million who have viewed their annual tax summary. This is great for employees who want to check their tax affairs but will also come as welcome news to pay professionals, as the app could reduce the number of inbound queries to the payroll department. Promoting its use with employees could mean that time spent answering simple queries is reduced, so that pay professionals can dedicate more time to the complex questions that come in to them.
Diary dates
Last day of tax month 8
5 December
First day of tax month 9
6 December
Last day for submitting a real time information employer payment summary to apply to tax month 8 Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic method
19 December
Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by electronic method
22 December
Merry Christmas!
25 December
Happy New Year!
1 January
Last day of tax month 9
5 January
First day of tax month 10
6 January
Last day for submitting a real time information employer payment summary to apply to tax month 9 Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic method
19 January
Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by electronic method
22 January
7
| Professional in Payroll, Pensions and Reward |
Issue 116 | December 2025 - January 2026
Made with FlippingBook - Online magazine maker