New Pension Rate to be used from 1st October 2023 are as follows: Scotland (TABLE 1) Used in respect of members in pensionable employment on the last day of the previous scheme years and the first day of the current scheme year. Tier Pensionable Pay used to determine contribution rate…
Read moreFor Employees who have been in the NHS Pension scheme prior to April 6th 2023: 1. The system will check the annual rate of pensionable pay for the tax year ending 2022/23 2. For full time employees, this will be obtained from the following: Full Time…
Read moreFurther to the Government’s announcement on Sunday 1st November, regarding the extension to the Furlough scheme, we would like to keep you informed on how we will be supporting you. What are the latest changes? The Furlough scheme has been extended. The rules for Furlough claims will be the same…
Read moreA new report has been introduced to KashFlow Payroll which will show the contribution rate changes. The report is called Pension Rate Summary, and can be printed from: Reports | GP Pension Reports | Pension Rate Summary Users will also be prompted to print the report when finalising the last…
Read moreChanges to NHS Pension Scheme are required from 1st October 2022. The main purpose of the changes include using actual pensionable pay instead of Whole Time Equivalent to set pension rates, and changing the pay tiers on which pension rates are determined. These changes were originally planned to be implemented…
Read moreThe following applies to: Normal Staff – paid for a single post – Employee type 1 Doctor – Assistant/Retainer (Practice is pension provider) – Employee type 5 If an employee has been added to the NHS Pension Scheme post April 6thst 2023, the Employee Basic Contribution rate will be…
Read morePlease note, whilst every effort has been made to ensure this information is correct, please check with HMRC if unsure. Income Tax Tax Bands rest of UK Rate Band(£) 20% 0 – 37,500 40% 37,501 – 150,000 45% Over 150,000 Tax Bands Wales Rate Band(£) 20% 0 – 37,500…
Read moreUnfortunately, because of the complexities of the new calculation to set the Employee Basic Contribution rate, there are 2 scenarios where KashFlow Payroll cannot guarantee the correct Employee Basic Contribution Rate. The following scenarios will require a payroll user to double check the figures, and manually amend the Employee Basic…
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