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We use cookies to make your experience better. By using xero. We also have our year end webinar that takes you through everything you need to know, register here. You can also take this opportunity to make sure any final employee payments and changes have been put through. Be careful with your payment date.
For your pay run to be reported as the final submission of the tax year, your payment date must fall in tax month 12 6 March?? If you have a week 53, Xero automatically adjusts the tax calculation for you. It is your legal duty as an employer to provide your employees with this statement by 31 May. Learn how to generate and review P60 reports. Xero Payroll will automatically insert the new benefit line for the next tax year ready for you to process in your first pay run.
Starting from April , HMRC will introduce new NI categories for the national insurance holiday for employers of veterans and the freeports employer national insurance relief. Any employees who meet the criteria will need to be processed and reported to HMRC under the new category letters.
Xero has included these new category letters for you to select and apply to eligible employees to receive the employers NI relief available within these schemes. From 6 April, an increase of 1. This increase will be applied for the 6 April to 5 April tax year, and revenue raised will go directly to support the NHS and equivalent bodies across the UK.
HMRC have requested employers include a message within the payslip to inform employees what the increase in contributions relates to. Where software is unable to support this request, employers will need to update this manually. Find more information here. If you are eligible to claim this relief, all you need to do is update the HMRC tab and select the coming tax year. As of 6 July , the new Primary threshold for National Insurance will take effect, providing all employees with a higher threshold before the calculation of national insurance contributions.
Xero Payroll will support this change along with the current thresholds that apply from 6 April to 5 July across employees and directors. Here are the important dates to note on your calendar as you step through the UK payroll year end:.
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Xero's commitment to gender equality and fair pay for all. Xero and Capital One partner to help rewire the small business economy. Reporting - it just keeps getting better! Small businesses name Xero the most-loved accounting software for the second year in a row. Hi Julie, thanks so much for your comment. Your email address will not be published. Save my name and email in this browser for the next time I post a comment.
Find out why over 2 million subscribers locally and across the world trust Xero with their numbers. Posted by Shay McCusker. You can find more information here. Check that your employees have the correct NI category letter, and update any annual deferment certificates. This is a new, final task for this tax year. New national insurance relief Starting from April , HMRC will introduce new NI categories for the national insurance holiday for employers of veterans and the freeports employer national insurance relief.
New National insurance threshold As of 6 July , the new Primary threshold for National Insurance will take effect, providing all employees with a higher threshold before the calculation of national insurance contributions. Popular this week. New Ultimate plan offers most comprehensive Xero package for small businesses by Rachael Powell 26 April Xero's commitment to gender equality and fair pay for all by Nicole Reid 2 March Xero and Capital One partner to help rewire the small business economy by 11 May Small businesses name Xero the most-loved accounting software for the second year in a row by Trent Innes 24 August Show all.
Leave a reply Cancel reply Your email address will not be published. Popular this week New Ultimate plan offers most comprehensive Xero package for small businesses 26 April Xerocon Sydney: Xerocon returns to Australia 15 March Xero's commitment to gender equality and fair pay for all 2 March Xero and Capital One partner to help rewire the small business economy 11 May Trailer Happiness: Serving party goers a taste of Carnival spirit in Notting Hill 25 August Related articles.
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