Changes 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…
Read moreWelcome to your software update for Tax Year 2020/2021. This update of the software includes some new features and enhancements, together with any necessary legislative changes. These notes provide information on all the improvements to the software. For details of changes to Rates and Allowances, click here. P60 changes and…
Read moreFollowing the Autumn Statement by the Government, a reduction to most NI rates was introduced from January 6th 2024 This included a new blended rate for Directors Further Information can be found here: Changes to National Insurance contributions from 6 January 2024 – GOV.UK (www.gov.uk) Rates:
Read moreIt is the employee who must contact the pension provider to inform them they wish to opt-out and get an “opt-out notice“. This opt-out notice will then be passed to the company for action in payroll, either via the employee or directly from the provider. The following contains more detailed information from…
Read moreWeek 53 If you run a weekly payroll you might find you need to complete an additional period after week 52 to finish your PAYE tax year. If your normal repeating pay date falls on the 5th April you have to complete the additional period for your tax year to be…
Read moreSee how IRIS KashFlow works with your business and your books
