Budget 2020 Delayed

Update 11/03/2020 @16:00

The day is finally here for the 2020 budget and thankfully, there are no major surprises. 

The only last-minute change is the increase in employment allowance from £3,000 to £4,000.  

Please be aware that this increase may impact your ability to claim Employment Allowance. If you wish to continue claiming, then you must ensure that you will not exceed the De minimis State Aid threshold for your sector. 

How will I get the update? 

We are working on finalising the year-end update for your payroll product and this will be available in coming weeks.  

Updates will happen automatically, so you don’t need to do anything. An update on the applied changes will be provided as normal. 


Update 5/03/2020 @12:30

Now that we are approaching year end, we want to provide an update on the required system updates and there is some good news 

 

...HMRC have now released the rates and information required to complete system updates for FY20-21. The details of their update are as follows: 

 

HMRC Update 

We (HMRC) are pleased to advise that the 2020/21 rates and thresholds for employers are now available on GOV.UK  

The P9X for 2020/21 is also available here  

If there are changes to tax rates or allowances as a result of Budget announcements, we would not expect them to operate from 6 April 2020.  If applicable, any date for changes to become operative will be announced in due course. 

How does this affect the year-end updates? 

We are working on completing the changes and running final checks before making the product releases available. We will still be waiting for final confirmation from the upcoming budget but, will be ready to release product updates in the following weeks. 

Updates will happen automatically so you don’t need to do anything. An update on the applied changes will be provided as normal.  

We apologise for any inconvenience caused, as a result of the delayed release of information from HMRC. 

 


Software update 18th February

As you may have noticed, we updated your payroll software on the 18th February. Whilst we await the finalisation of the PAYE parameters for the 20/21 tax year for HMRC, this update will allow your payroll to:

  • Finalise the final pay period in the tax year
  • Produce P60s

Please do be aware there will be a subsequent update that covers the new legislation for the 20/21 tax year which will also include the ability to send P60s to ESS on year end.

We will continue to update this page as further information becomes available.


Update 5/02/2020 @ 10:50

Further to our recent communications regarding the delayed budget, Kashflow have continued to work on the upcoming system upgrades.

Though the timings of government updates are still not certain, we are confident that our changes will be delivered in time for the end of the current financial year.

We understand that the uncertainty surrounding the budget may cause you concern, however, we can assure you that we are doing everything we can to minimise the impact that this will have.

We will continue to update this page as further information becomes available.


Update 16/01/2020 @ 10:45

As you may be aware, the late call for a general election has delayed the release of the budget for financial year 2020/2021. The government have since confirmed that the budget will be delivered on 11th March 2020.

We are already well underway with the development of legislative changes and will be able to make the remaining alterations once the details are confirmed. As you can appreciate, the changes to the date of the budget are outside our control, however, we will make sure you are kept up to date with any progress as soon as we gain further clarification.

Please be assured that we are in close contact with HMRC, ensuring that we receive updates as soon as they are available.

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