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Budget Updates

Budget Updates in the Umbrella Market, NHS and some very good news around NI

We welcome the long-awaited government regulations in the Umbrella payroll market. Our pride lies in our unwavering commitment to compliance and thoroughness in doing the right thing by our contractors. Unlike making wild claims or promises, we operate by the book, ensuring transparency and integrity in every step. This regulation aligns with our values, further emphasising the importance of accountability and ethical practices. We remain dedicated to providing reliable and compliant solutions for our contractors, fostering a trustworthy partnership that stands the test of regulatory scrutiny.

Umbrella Regulation Update

The government is consulting both on options to strengthen the regulatory framework in the tax advice market, and on requiring tax advisers to register with HMRC if they wish to interact with HMRC on a client’s behalf. Following consultation in 2023, the government will set out next steps for tackling non-compliance in the umbrella company market shortly.

Tackling non-compliance in the Umbrella Company Market:

The government is committed to protecting workers employed by umbrella companies, ensuring fair, genuine competition in the market and preventing significant Exchequer losses caused by tax non-compliance. In summer 2024 the government will also publish new guidance to support workers and other businesses who use umbrella companies. 

National Insurance

The government is cutting the main rate of employee National Insurance by 2p from 10% to 8% from 6 April 2024. Combined with the 2p cut announced at Autumn Statement 2023, this will save the average worker on £35,400 over £900 a year. The combined effects of these reductions to National Insurance also means that a person on the average wage now has the lowest effective personal tax rate since 1975.

Introducing the NHS App

Making the NHS App  the single front door through which patients can access NHS services and manage their care, saving patient time when ordering repeat prescriptions, managing appointments, and providing more patient choice and instant access to their own health information. This will save NHS staff time by reducing up to 500,000 missed appointments.

Digitally-enabled prevention and early intervention services, through the NHS App, introducing a new digital health check, which will enable individuals at high risk of early onset conditions to be identified early, as well as creating easy access to vaccination or screening appointments.

Delivering a radically improved online experience for patients, giving citizens a single digital access point for information about NHS services, including which services are available, opening times, and contact details. This will make it easier for patients to navigate services, improving the patient experience and freeing up staff time. £1 billion will be invested to transform the use of data to reduce time spent on unproductive administrative tasks by NHS staff, enabling more than £3 billion of savings over five years. This funding will help scale up and accelerate the use of technologies to automate these processes, so staff can instead use this time to deliver better care for patients. This includes:

Pilots to test the ability of Artificial Intelligence (AI) to automate back office functions. By automating the writing and clinical coding of notes, discharge summaries and GP letters, clinicians will be able to spend more time with patients at more appointments. Pilots in Chelsea and Westminster Hospital have found that this technology can reduce time spent on discharge summaries by more than 50%. If rolled out across the NHS, this could unlock an annual productivity benefit of £500-850 million.

Providing all NHS staff with digital passports and access to a new NHS Staff App. This will significantly reduce the bureaucracy involved in moving between different parts of the NHS, and eliminate the need to redo training courses, meaning more time can be spent on patient treatment and care.

And that’s not all:

There is also good news and savings around Fuel and Child Benefit Charges. Learn more about these and all updates here or feel free to contact us here at Accuratus Green Payroll for more information.

We’re here to help.

https://accuratusgreenpayroll.co.uk/

“Our people matter, with us there is more than just pay, we go further to offer the right advice with added benefits and rewards, together with our ongoing commitment to the environment”

Michael Chambers CEO and founder Accuratus Green Ltd

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Contact our specialist team today by filling in the form below for a no obligation consultation to see how we can help save you time and money.

We look forward to hearing from you

Accuratus Green Ltd

3 Newbridge Square

Swindon, Wiltshire

SN1 1HN

Company Reg: 09932435

enquiries@accuratusgreenpayroll.co.uk

01793 272174

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