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To ensure you are using the correct legislation for the new tax year in your Sage Payroll software, you should: Go to the Company tab, then select Legislation. You will see the tax and NI codes that are being used by looking at either the tax tab or the NI tab. The tax and NI [...] Earlier this year, the government announced changes to pension schemes resulting in Workplace Pension Reform which will be phased in over a 4 year period from October 2012. Large to medium sized companies will be first, and small companies starting from May 2015 and mandatory for all by October 2016. This pension reform will mean that [...] There are several changes to payroll processing coming in over the next year, probably the most important of which is Real Time Information. HMRC are putting a new system called Real Time Information (RTI) in place to improve the operation of PAYE, which will enable them to seamlessly obtain information about your payroll at the [...] Expenses and Benefits rates for the Tax Year 2012 / 2013 Class 1A NICs: expenses and benefits NICs class Rate 2012-13 Class 1A NICs 13.8% – for benefits provided in 2012-13 Company cars: advisory fuel rates The rates below apply from 1 March 2012. Engine size Petrol LPG 1400cc or smaller 15p 10p 1401cc to [...] Student Loan figures for the tax year 2012 / 2013 Student loan recovery Rate or threshold Figures to use 2012-13 Employee earnings threshold at which repayment of student loans begin £15,795 per year £1,316.25 per month £303.75 per week Rate of student loan deductions 9%
[...] SSP for the tax year 2012/13 Statutory Sick Pay The same weekly Statutory Sick Pay rate applies to all employees. However, the amount you must actually pay an employee for each day they’re off work due to illness (the daily rate) depends on the number of ‘qualifying days’ they work each week. Statutory Sick Pay [...] SMP, SPP and SAP rates for 2012/13 Statutory maternity, paternity and adoption pay Type of payment or recovery Figures to use 2012-13 Statutory Maternity Pay (SMP) – weekly rate for first six weeks 90% of the employee’s average weekly earnings Statutory Maternity Pay (SMP) – weekly rate for remaining weeks £135.45 or 90% of the employee’s [...] PAYE tax and Class 1 NICs Tax thresholds, rates and codes for 2012 / 2013 PAYE tax rates, thresholds and codes Figures to use 2012-13 PAYE tax threshold £156 per week £675 per month £8,105 per year Basic tax rate 20% on annual earnings above the PAYE tax threshold and up to £34,370 Higher tax [...] I have recently installed Sage 50 Payroll 2012/13 (version 18) on my PC which runs Windows 7 64 bit. I didn’t have any problems with the installation or restoring data, so I thought it would all run smoothly….. Processing the payroll and backing up were fine, as was running Payroll Year End. The only problem [...] Version 18 of Sage 50 Payroll now has a new name: Sage 50 Payroll For the Tax Year 2012/2013 Not very catchy, I know, but designed to explain what legislative year it relates to. All future versions of Sage 50 Payroll will have this new naming convention. In future, Sage 50 Payroll will be released [...] |
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