National Payroll Week 2015
The main theme this year is that "it pays to learn" with a focus on the role that payroll can play on "educating the nation".
This means that there will be an emphasis on encouraging payroll professionals to educate their clients and employees around payroll and financial related activities to improve their monetary wellbeing.
The initiative, set up and ran by the Chartered Institute of Payroll Professionals acknowledges and celebrates the impact that payroll has on businesses and also recognises the contribution that payroll makes to the UK economy through taxable receipts.
So, to kick off the "educating the nation" initiative, the CIPP have provided a few facts to get us started!
- The word 'tax' is from the Latin taxo, meaning “I estimate”
- The current system of National Insurance has its roots in the National Insurance Act 1911 which introduced the concept of benefits based on contributions paid by employed persons and their employer
- There were two schemes running alongside each other, one for health and pension insurance benefits (administered by "approved societies" including friendly societies and some trade unions) and the other for unemployment benefit which was administered directly by Government
- The recording of the contributions required the employer to buy special stamps from a Post Office and affix them to contribution cards. and the cards formed proof of entitlement to benefits and were given to the employee when the employment ended, leading to the loss of a job often being referred to as being given your cards, a phrase which endures to this day although the card itself no longer exists
- 2014-15 raised PAYE Income Tax receipts totalled £139,506 million
At IRIS one of our main aims is to ensure that we are educating our clients and potential customers about auto enrolment and the role that it plays in payroll. We advocate that running your auto enrolment process as part of your payroll is the most logical, streamlined way to do this and this is something that we talk about in our free online webinars.
One of our webinars coming up in the next few weeks is to educate businesses around Pay Reference Periods (PRP). You can book your free place on our bite-size training webinar by clicking the link below.
We also have our auto enrolment legislation training that you can book yourself onto.
Coming up this week, we will be featuring bits of information for you to read, download, watch or attend all in aid of National Payroll Week's initiative: "it pays to learn!"