Moore Thompson :: Payroll and HR Bulletin

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Welcome to the Moore Thompson Payroll and HR Bulletin

Welcome to Moore Thompson’s Payroll and HR Bulletin, our regular publication to keep you up to date with news and information on payroll and HR issues.

In this edition, we look at a report which suggests salary growth may be slowing due to both the apprenticeship levy and the national living wage, issues relating to group pension schemes, plans to simplify tax and a call from HMRC for workers to renew their tax credits.

If you have any feedback on our Payroll and HR Bulletin, please contact please contact Katie Hewlett at katie@mooret.co.uk or on 01775 711333

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NLW ‘is slowing salary growth,’ says CIPD report

A recent study conducted by the Chartered Institute of Personnel and Development (CIPD) has revealed that George Osborne’s new National Living Wage (NLW) and apprenticeship levy are slowing salary growth.

The CIPD report forecast that pay rises will average approximately 1.7 per cent this year, as employers continue to struggle with the costs and impacts of the recent changes.

TPR to point employers towards pension schemes

The Pensions Regulator (TPR) is to publish a list of group personal pensions (GPPs) on their website aimed at helping employers to comply with their automatic enrolment duties. This will be in addition to the independently reviewed master trusts that are already on the site.

According to TPR, well-run multi-employer master trusts and GPPs are the best way forward for small and micro employers that are preparing to meet their workplace pension duties and the regulator is keen to give them as broad a choice as possible.

OTS publishes strategy consultation document on tax simplification

The Office of Tax Simplification (OTS) has published a strategy consultation document which hopes to spark discussion of potential tax simplification reforms for the future.

The news comes after the OTS was appointed statutory body on a permanent basis by the 2016 Finance Bill.

Businesses urged to help employees renew tax credits

Employers are being reminded by HM Revenue & Customs (HMRC) to encourage staff to renew their tax credit claims as soon as possible to beat the mid-summer rush.

HMRC say that June and July are the two busiest months for processing claims – reporting that employees block up tax credit helplines in their frenzied attempts to renew before the 31 July cut-off date.