Unfortunately, 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 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 moreWelcome to KashFlow Payroll Release 1.5.1. This update of the software concerns the support for the latest changes to furlough legislation from HMRC in KashFlow Payroll, making it easier to calculate what you can claim back from the government, using the Coronavirus Job Retention Scheme. Further information can be found here. The Coronavirus…
Read moreIf an employee has received a salary increase in the new tax year 2022\23, the Employee Basic Contribution rate that the system has set will need to be checked and amended if necessary. Example: The pensionable Earnings for an employee for the year ending 21/22 were £16,700 This means the…
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 moreWe have recently updated the pension tiers for the NHS Pension Scheme for England/Wales for 2023/2024 following the changes announced recently; the changes to the pension tiers apply from 1st April 2023. In addition to this, the AfC Pay Awards have also been announced, also with the instruction to backdate…
Read moreWelcome to your October update for Tax Year 2024/2025. This update of the software includes some new enhancements, and necessary legislative changes. These notes provide information on improvements to the software. NHS Pension Scheme – Scotland We have implemented changes to the Scotland contribution rates and tiers (Table 1 and…
Read moreNew 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…
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