HR Updates

The Budget 2021 – What does that mean for businesses and HR

On Wednesday, 27 October 2021 Rishi Sunak, The Chancellor of the Exchequer, presented the UK Government’s budget for 2021. Below we review some of the key points relating to businesses, including
HR.

  • The Chancellor announced an increase in the Nation Living and National Minimum Wage for those employed, for those over 23 – the National Living wage, the rate will increase 6.6% from £8.91 today, to £9.50 per hour in April 2022, this increase will be around £1000 per annum for someone working full time around 35 hour per week.
National Minimum Wage
Age Range Current Rate per Hour New Rate as of April 2022 Percentage Increase
23 and over £8.91 £9.50 6.6%
21-22 £8.36 £9.18 9.8%
18-20 £6.56 £6.83 4.1%
16-17 £4.62 £4.81 4.1%
Apprentice Rate £4.30 £4.81 11.9%
Accommodation Offset £8.36 £8.70 4.1%
  • 50% discount for business rates for Hospitality, retail and leisure industry, capped at £110,000. This will also include high street personal care businesses such as hairdressers.
  • Additional support for the hospitality sector specifically pubs which will see alcohol duty that will cut tax for lower alcoholic strength drinks including beers, fruit ciders, and weaker wines. The planned increase in duty for Whisky, beer wine and cider will also be cancelled. Smaller producers of alcoholic drinks will be supported with the introduction of a new small producer relief, which builds on the success of the Small Brewers Relief. The premium rate tax on sparking wine will be end, along with a reduction in the tax on Rose.
  • Nationwide scheme called multiply will be introduced to help adults with their numeracy skills
  • £3billion worth of investment into skills and education, this is being aimed at tackling the skills shortage currently seen following the pandemic.
  • The Recovery Loan scheme will be extended by 6 months
  • New and Growing Businesses will be able to receive finance, to be delivered via the government British Business Bank over the next 2 years.
  • Businesses will be able to make improvements to their business buildings by taking advantage of a business rate exemption for green property improvements to help make the buildings more energy-efficient, such items will include solar panels and heat pumps.

Get in Touch

Name

Schedule A Call

Simply click below to schedule a call with a specialist to discuss your business requirements.

Saul HunnaballSaul Hunnaball
15:44 12 Aug 22
We have worked with Park City for our HR and Health and Safety support for many years now and have always received an excellent service.Carley is our Consultant and she is always so helpful, as are... her colleagues when she is unavailable.I would highly recommend Park City.read more
Lea CuttingLea Cutting
08:31 27 Jul 22
Park City have worked with us for many years, advising and guiding us regarding HR and Health & Safety, along with supplying valuable training.We work with many people in several areas of expertise,... Sara Godfrey, Jennie Galione, Ashley Williams, Sam Parcell, Stephanie Devans, Poppy Hayhoe.They build confidence within our company and are always available with support and advice.They provide a consistent, professional, hands-on service, second to none!Thank you from DH Industries Limited.read more
Vikki PringleVikki Pringle
11:12 20 Jul 22
The team at Park City offer us the right level of service needed to confidently run a small business. They keep us up to date with UK policy HR requirements, help us manage any staff changes or... issues and policy documents. The team are informed, friendly and remain professional in my experience.read more
Tracy MeadTracy Mead
07:12 20 Jul 22
The DS Group have been working with Park City now for a number of years and we have found their HR services to be invaluable. The service received is always to the highest professional standards and... they have assisted our business in becoming more efficient and effective in all HR matters.My consultant Sam Parcell is always on hand to help answering any questions quickly and professionally and she offers vital guidance, advice and support to us.We as a company will continue to use Park City’s services for many years to come and we cannot recommend them enough!Tracy Norton-Mead, Operations Director at the DS Group.read more
Katie HerbertKatie Herbert
13:35 07 Jul 22
We have worked with Park City for almost 10 years and have built up a great professional relationship over the years. The team are so friendly and helpful, and nothing is ever too much of an ask for... any of them. Our main HR contact is Carley, who is lovely, and she is very prompt in dealing with any queries we have regarding our 100+ staff. We would highly recommend their services for any local business.read more
js_loader

Suggested For You…

Google Rating
4.9
Based on 37 reviews
js_loader