A Payroll Podcast Budget Special episode, recorded just 24 hours following the budget speech delivered by Philip Hammond on 29th October 2018 with Helen Hargreaves, Associate Director of Policy at the Chartered Institute of Payroll Professionals.

We sit down to discuss the key points from the 106-page budget document that will could affect payroll and tax.

In the last Budget before we exit the EU, the Chancellor Philip Hammond appeared to relish the delivery of his 2018 Budget speech. His task this year is not an enviable one as the ‘deal or no deal’ debate continues with many questions unanswered. The economic forecast from the Office for Budget Responsibility (OBR) was positive; with wages growing at the fastest pace in almost a decade and we have been assured that we should expect sustained real wage growth in each of the next five years. The OBR also confirmed significant improvement in our public finances with national debt having peaked in 2016-17. This means a new path for public spending: “Fiscal Phil says Fiscal Rules OK”. We take a deep dive into all of the announcements made and summarise it for you to digest audibly at your payroll leisure!

Budget Subjects include:

Tax rates and thresholds, Income tax, Devolved income tax and Company cars, vans and fuel
Apprentices and Transferring levy funds and Contributions to funding
National Insurance contributions, Limits and thresholds
Draft National Insurance contributions Bill
National Minimum Wage and National Living Wage
Off-payroll working in the private sector
Parental bereavement leave and pay
Pensions and Savings, Lifetime Allowances and the starting rate for savings
Individual Savings Account (ISA) annual subscription limits
Child Trust Funds and Improving NS&I’s offer to customers
Pension Dashboards and other Digital tool proposals
Tax avoidance and evasion
Protecting your taxes in insolvency
Management capability and Backing entrepreneurs
Universal Credits and Transitioning onto Universal Credits
Banning pensions cold calling

We hope you enjoy this “Fiscal Phil” Budget Special episode of The Payroll Podcast! If you know anyone else who works in payroll, then please, share this episode with your friends and get them to subscribe today!

To discover more about Helen Hargreaves, please visit: https://www.linkedin.com/in/helen-hargreaves-msc-chfcippdip-53147333/
To find out more about the CIPP, please go to https://www.cipp.org.uk
To find out more about JGA Payroll Recruitment Services, please visit:

“Fiscal Phil” Budget Special – with Helen Hargreaves – 014

The Payroll Podcast