Please 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 moreFor Employees who have been in the NHS Pension scheme prior to April 6th 2021: 1. The system will check the annual rate of pensionable pay for the tax year ending 2021/22 2. For full time employees, this will be obtained from the following: Full Time…
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 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 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
