Delayed 2020 Budget Release
Page Updated 16/01/2020 @ 10:45
As you may be aware, the late call for a general election has delayed the release of the budget for financial year 2020/2021. The government have since confirmed that the budget will be delivered on 11th March 2020.
How does this affect Payroll?
The budget defines the proposed changes to a range of factors affecting payroll, and therefore this will have a detrimental effect on the delivery date of our software update in preparation for FY 2020/2021.
As a result of this, we cannot be sure of the scale of impact this will have on the delivery of our software, as there are several factors outside of our control. However, we will make sure that you are kept up to date with progress as regularly as possible.
We are already well underway with the development of legislative changes for all products and will be able to release updates once the remaining elements can be completed.
Please be assured that we are in close contact with HMRC, ensuring that we receive updates as soon as they are available. Several professional bodies are also working with the government, aiming to minimise the impact this has on employers.
How does this affect you?
In the meantime, you can pay your employees as normal for FY 2019/2020 however year-end processes cannot be completed and you will not be able to run any payroll for the 2020/21 tax year until the updates have been made available to you.