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On demand webinar: Payroll & Reward Brunch – October 2021

On demand webinar: Payroll & Reward Brunch – October 2021

Date:28 October 2021
Duration:1 Hour
Location:On demand

At brunch on Thursday, October 28th at 11am, host Ian Holloway will present his Autumn Budget Special. One day after the delivery of the Autumn Budget, Ian will examine the impact of Chancellor of the Exchequer Rishi Sunak’s Autumn Budget for UK employers. (Slides are available here)

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Q&A

If an employer wants to use payroll software to correct National Insurance Contributions for veterans in tax year 2021/22, can they do this by submitting a corrected year-to-date Full Payment Submission after the end of the tax year?

Yes, that is what HMRC have said to developers.

The National Minimum Wage will now increase significantly from April 2022. What impact do you think this decreasing wage gap between the lowest paid and junior and middle management will have on employers?

Absolutely this will impact employers, especially in areas like retail, leisure etc. where the salary gap between for example those hanging out clothes and those supervising the hanging out of the clothes is small. If supervisors see a salary increase of 6.6% for their teams, then they are going to expect a 6.6% increase to close that gap. I think it will be a real issue for employers, and I’m sure it’s the same every year, but this year the increase is so substantial that it will be a significant problem.

This will affect employers throughout the country and now that we are hopefully post-pandemic, they will be looking at survival, and this will hit them hard. I’m sure that they won’t welcome it, but there is no doubt that it’s good for workers. But it’s a struggle for employers especially with the increased National Insurance (Health and Social Care Levy) next year. It’s a worry.

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Posted in HR, Payroll, Payroll Support