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National Payroll Week 7th – 11th September 2020 - What Are We Celebrating?

National Payroll Week Was Introduced By CIPP to Recognise And Raise The Profile Of The Payroll Professionals Being An Integral Part Of The UK Economy

We know payroll professionals do a fantastic job but many people outside of the payroll industry don’t know what they do exactly and how their work supports the UK economy.

So, National Payroll Week was established by CIPP (Chartered Institute of Payroll Professionals) in 1998 as a chance to cheer on the payroll professionals, highlight what an amazing job they do and the impact they have to the UK economy. 

Working in payroll is not an easy role, it is much more than making a few clicks on payroll software! Payroll professionals make critical decisions which benefit businesses and ensure they are compliant. The ability of payroll professionals to save employees money through salary sacrifice and other opportunities will provide employees with better motivation whilst saving the business from having to provide any expenditure.

The COVID-19 pandemic has shown what a vital part of a business payroll professionals are, having to understand then translate the rules of the Corona Virus Job Retention Scheme (CJRS) otherwise known as the furlough scheme has proved a challenging and arduous task in a lot of cases. There are different rules for some industries, employees work a range of hours, some earn bonuses, holidays have to be taken into account so calculating the instructions is complex and time consuming. The furlough scheme has saved countless jobs but understanding the rules which could be interpreted in more than one way and then applying it is hard going and takes concentration and no distractions!

In 20/21, the payroll industry is expected to contribute in the region of £325.7bn* to the UK economy through the collection of income tax and National Insurance. 

The largest expenditure by the majority of businesses in the UK is payroll which is why CIPP call for payroll to only be managed by qualified professionals. 

The  Financial Secretary to the Treasury,  Rt. Hon. Jesse Norman has written to CIPP in support of National Payroll week:

Thank you for your letter to the Prime Minister, about CIPP’s National Payroll Week. Your letter has been passed to the Treasury and I am replying as Minister with strategic oversight of the UK tax system. I am pleased to support the Chartered Institute of Payroll Professionals’ annual National Payroll Week. Payroll professionals play an important role in supporting the UK economy by collecting tax and National Insurance contributions, and CIPP’s work in encouraging and educating employers has had a positive impact on implementing wider government policy, including in the difficult times presented by the coronavirus pandemic. This year the theme for National Payroll Week is “Keeping the UK paid”, and with over 8 million employees** having been furloughed at some stage since March this could not be more apt. I am grateful for the dedication of payroll professionals in rising to the challenges COVID-19 has brought. I am delighted to support the week and encourage as many employers as possible to take part. 

CIPP are running a range of conferences and events to celebrate National Payroll Week.

https://obr.uk/efo/economic-and-fiscal-outlook-march-2020/

** correct as of June, 2020




 

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