| Welcome to the Moore Thompson Payroll and HR Bulletin
Welcome to Payroll, the quarterly publication from Moore Thompson Chartered Accountants keeping you up to date with news and developments in the world of payroll & HR.
In this edition: ✧ Revenue trials new system to improve PAYE accuracy ✧ The Good Work Plan – helping you get ready for the proposed changes which are just months away ✧ Calls for the Government to make off-payroll assessment tool simpler And more…
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Revenue tests new trigger to increase the accuracy of PAYE codes
HMRC is trialling a new system which is intended to improve the accuracy of employees’ PAYE tax codes.
They believe as many as half a million tax codes being used by employers across the UK could be incorrect, leading to employees either overpaying or underpaying tax.
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Good Work Plan – Here’s what you need to know
Important new changes to employment regulations are due to come into force on 6 April 2020. The plans were first revealed in December 2018, when the Government announced proposals for its new Good Work Plan.
The raft of proposed new legislation promises to both increase transparency and strengthen the rights of workers in ‘unsecure’ employment.
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CIOT calls on HMRC’s to improve CEST tool for IR35
The Chartered Institute of Taxation (CIOT) has called on the Government to make improvements to its online assessment tool for off-payroll working, warning that the new rules won’t operate effectively without it.
The Check Employment Status for Tax (CEST) tool has been developed by HM Revenue & Customs to help employers identify those contractors and consultants caught within the IR35 rules.
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UK wages are rising more quickly than predicted
The latest data on wage growth shows that in the three months from February to April wages rose faster than previously indicated.
During this period pay rose by 3.4 per cent compared to the same period 12 months ago, which after taking inflation into account, means that the average UK wage grew by 1.4 per cent.
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Centre for Social Justice proposes higher state pension age
Think Tank the Centre for Social Justice (CSJ) has called on the Government to raise the state pension age to 75 to provide a £182 billion boost to the economy.
Its report, Ageing confidently – Supporting an ageing workforce, recommends increasing the state pension age to 70 by 2028, before then further increasing it to 75 by 2035.
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Women’s employment rate reaches record high
New figures from the Office for National Statistics (ONS) have revealed that the employment rate for women in the UK has reached a record high.
In the three months to June, 72.1 per cent of women in the UK were in employment. The figure compares to 80.1 per cent of men and 76.1 overall.
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HRMC issues their latest employer bulletin
The latest version of the Employer Bulletin has now been released by HMRC.
This edition has articles including:
- PAYE RTI penalties – continuation of the risk-based approach to charging penalties
- Class 1A liabilities payable on Termination Awards and Sporting Testimonial Payments
- Off-payroll working rules from April 2020
Read more...
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