On demand webinar: Payroll & Reward Brunch September 2021
|Date:||30 September 2021|
On September’s Brunch, fresh after their summer breaks, Ian Holloway and Simon Puryer will give payroll and reward practitioners an update on the latest news affecting the professions. We are only in September, but there are already things to know for the tax year 2022/23, for example, the introduction of the Health and Social Care Levy which will affect employers UK-wide as National Insurance percentages increase.
They will also discuss ‘payroll and the new normal’. Has the pandemic changed the way that we work permanently and, is this a barrier to successful payroll and reward operation in the future? (Slides are available here)
Where are the Freeports and what does it mean to be operating in one?
Have a look at the British Ports Association website.
There are 8 Freeports in England:
Plymouth and South Devon
East Midlands Airport
Felixstowe / Harwich
There are 8 potential locations in Wales and a number in Scotland, however, these have not been decided.
The relief is going to apply where an employer has a physical presence in a Freeport site and the employee works at least 60% of their time there. So, this could be an employer with a shipping / freight business or also one in hospitality and leisure.
So, there are a wide number of businesses that may see it attractive to start operating in a Freeport area.
You call it BC and AC. Do you think that we are in a settled AC stage now or will this continue to evolve?
Payroll and reward, indeed every profession will continue to evolve in AC-mode. I do not believe that we are in a settled state, far from it.
What I do believe, however, is that operating in BC and now in AC has made employers and individuals realise that change is not necessarily a bad thing. Covid was forced upon us and we had to react. Yet, I think we have realised that we see things differently as a result of change and, perhaps, there are some positives that have been thrust upon us. They would have happened anyway but Covid has forced them to happen sooner than they would have.
Payroll’s profile has raised during the pandemic. Do you believe that payroll now has the long-awaited ‘seat at the table’?
I think that payroll and reward have demonstrated that they are a profession in their own right and employers have recognised the invaluable contribution that they have made, operating business-saving things such as the CJRS and CSSPRS.
However, employers quickly forget. So, now we have achieved a position of being recognised as a profession, the task is for professionals to keep our bosses aware of what we do.
It is not a forgone conclusion that payroll and reward have secured a place at the boardroom table. Or, if we have, it is going to be easy to lose.
Whilst automation and Robotic Process Automation sound all very well and good, is this actually doing away with jobs in the profession?
There is a danger that this is the assumption, and it’s a myth that should be dispelled. Automation is not about replacing people’s jobs. It’s about automating the mundane tasks that can be performed by a bot, so freeing up time for people to focus on the value adding activities.
You can see a demonstration of this at our webinar, Successful Change with RPA on the 6th October, where we’ll using a payroll process to show the benefits of automation.
What are your predictions for the Budget?
This is a tough one and I don’t know of anyone bold enough to make predictions.
However, it is obvious that the UK Government has levels of debt that are unprecedented and the outcome of the Spending Review will surely have to limit public spending for the years 22/23 to 24/25.
You can expect that there will be announcements on:
• The transition to Net Zero
• Levelling up across the UK
• Seizing the opportunities of EU Exit and
• Delivering the Plan for Growth and Plan for Jobs
• There will be incentives to go green – maybe a car scrappage-type scheme
• Incentives to hire and grow UK-wide. Some of these have already been announced such as the incentives for hiring employees who work in Freeport zones
• I cannot believe that there will be headline-grabbing tax increases but there will be reference to the ones that have already been announced
• Surely there must be announcements on tax increases by the backdoor, the so-called stealth taxes. For example, the tax allowances have been frozen from April 2022 but there are other allowance that could be frozen. These don’t look as though there are a tax rise but, when taking into account inflation and earnings inflation, they are
It’s going to be a good one this year.