Legislation
The Chancellor’s Spring Statement
Due Date
Announced 23 March 2022
Summary
In the Spring Statement on 23rd March 2022, Rishi Sunak included some announcements that will affect payroll in 2022-23 and later:
- The Primary Threshold for National Insurance will be aligned to the tax free allowance from 6th July 2022 at £12,570. The NI tables shown in this guide reflect this update.
- Employment Allowance will increase to £5,000 for all eligible employers and charities from 6th April 2022. This is a potential
annual NI discount of an extra £1,000 for those employers. - The basic rate of PAYE tax will be reduced from 20% to 19% in 2024.
Payroll Legislation Guide
Do you know the dates of all the complex payroll legislation changes? Are you aware of what you need to do to ensure your business is compliant? Many UK businesses aren’t aware…