Pre-Budget Report - Headline announcements

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25 October 2007

The Chancellor presented his 2007 Pre-Budget Report (PBR) to Parliament on 9 October 2007. Most of the matters relevant to Payroll and HR were set out in supporting documents and press releases issued at the time. However, as the date of the PBR preceded the publication of the September 2007 Retail Price Index (RPI), the announcement about the annual statutory increases to NICs thresholds, tax allowances and statutory payments was not made until 18 October, following publication of the September 2007 RPI.

Several of the PBR announcements are payroll-related and are discussed in detail in this newsletter under the following headings:

• Contracting-out and the State Second Pension
  
  
• Removal of NICs exemption for holiday pay schemes
  
  
• Alignment of PAYE and NICs
  
  
• Car Fuel Benefit Charge.

The Pre-Budget Statement and the associated documents are available on the HM Treasury and HMRC websites.

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Further information:
2007 Pre-Budget Report and Comprehensive Spending Review
2007 Pre-Budget Report and Comprehensive Spending Review

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