Top 5 Things In Payroll To Know This Week – 26/03/2021

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Welcome back to another edition of the Top 5.  This week includes the consultations from government and an update to the minimum wage guidance. 

1. Tax Policies and Consultations

HMRC have published a number of consultations and calls for evidence on what has been called “tax day”  A consultation that I recommend people look at is the one for Raising Standards in the Tax Advice Market. 

Read More: https://yourpayrollteam.com/tax-policies-and-consultations/

2. National Minimum Wage Guidance Given A Refresh

An updated version of the ‘Calculating The Minimum Wage’ guide for employers is now available on GOV.UK. 

Read More: https://yourpayrollteam.com/national-minimum-wage-guidance-given-a-refresh/

3. Taxable pay tables: Manual method for 2021-22 published

The 2021/22 version of the guidance for calculating payroll manually have been published

Read More: https://www.gov.uk/government/publications/taxable-pay-tables-manual-method

4. Low Pay Commission consultation 2021

The Low Pay Commission has published its consultation to seek evidence on the effects of the National Living Wage and Nation Minimum Wage and to inform their recommendations for the rates in 2022.

Register at: https://www.gov.uk/government/consultations/low-pay-commission-consultation-2021

5. Record keeping for National Minimum Wage Extended

The National Minimum Wage (Amendment) Regulations 2021 also included details about increasing the length of time to keep records from 3 years to 6 years.

Regulation 2(5) extends the period for which an employer must keep records sufficient to establish that the employer is remunerating the worker at a rate at least equal to the national minimum wage from three years to six years (regulation 59(8) of the 2015 Regulations). Regulation 3 then provides that this extension applies to records made before this instrument comes into force if the employer was already required by regulation 59 to keep the records immediately prior to the instrument coming into force.

Read More: https://www.legislation.gov.uk/ukdsi/2021/9780348219586

 


I am speaking at the GPA UK Virtual Summit

The Global Payroll Association will be hosting their UK Virtual Summit on 22 April 2021.

“This half day virtual summit led by experts in their field returns to cover some of the challenges facing employers from 2021 onwards. This energetic virtual conference breaks new ground in the payroll industry. We will be looking at the latest developments in the UK.

You will be able to attend individual sessions, get tips from panel discussions and question our top quality speakers. You will also have the opportunity to network with fellow payroll professionals and visit our virtual booths.”

Register: https://globalpayrollassociation.com/collections/webinars/products/gpauk-virtual

Next Payroll Forum – 6 May 2021

The next Payroll Forum will take place on 6 May from 3pm.

Register Now: https://yourpayrollteam.com/payrollforum

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