RTI - Real Time Information changes to PAYE by HMRC
HMRC has introduced the biggest change to the PAYE scheme since
it was introduced in the 1940s. Real Time Information is the new
system by HMRC, which meanS that employers are required to send
data about PAYE, NIC and student loans every time they pay their
employees, instead of with their end of year tax return. The system
was phased in from April 2013 and became mandatory for all employers
in October 2013.
PENSIONS AUTOMATIC ENROLMENT
RTI isn't, however, the only big change for employers as under
Workplace Pension Reform from October 2012 employers had to
start to provide a Qualifying Pension Scheme and opt all eligible
employees in to it by making a minimum employers contribution. The
reform was phased in over 4 years, starting with large companies
first and will apply to all companies by February 2017.
To ensure the introduction of compulsory pension contribution is
as simple as possible, Sage 50 Payroll software now includes the
ability to record details of the pension scheme provided. The software
records which employees have opted in or out, whether, they have
made employee contributions themselves and when the auto-enrolment
review date is due.
New Sage 50 Payroll software has been updated
to help your business prepare for Automatic Enrolment whilst still
providing everything you need to run your payroll as before.
For a Guide
to Pensions Automatic Enrolment including staging dates click here.
PENSIONS CENTRE - WHAT ARE THE
The Pensions Centre gives you all the knowledge, tools and resources
you need to create the most seamless and stress move into Automatic
Enrolment for your busness. How?
You can enter your staging date into the Pensions Centre and create
your personalised Action Plan based on The Pensions Regulator's
best practice and Sage research to help you get prepared and stay
The Pensions Centre also lets you set up your Pensions quickly
and easily with Fast Track Pensions; with direct access to leading
Pension providers including NEST and NOW Pensions.
You can understand the cost of Automatic Enrolment on your business
by calculating the contributions and trying out different scenarios.
Create reminders to keep everyone up to date with what needs to
be done and export to Outlook, iCal and other calendars and you
can also access Automatic Enrolment information in the best format
for you: using "Show me how", get to grips with the jargon
with quick audio clips and learn from video clips as you work.
As before for extra ease Sage 50 Payroll software products integrate
with the last few versions of Sage Accounting software, P11D and
Human Resources products. Integration with Microsoft Excel was also
improved with v2010 to make it even easier to transfer your data.
If you have any questions please ask us.
Sage 50 Payroll Professional offers extra features over
and above Sage 50 Payroll including:
The ability to monitor changes with Exception Reporting, to save
time, calculation drill downs for Year to Dates, choose which variant
of backup to take either Payroll or Payroll Professional and save
time by performing a number of important payroll tasks simultaneously
across all or selected companies saving you time and effort.
Note: When determining the number of employees you require a license
for Sage 50 Payroll software range the number you need is the total
number of current employees and leavers in the tax year.
If you have less than 25 employees you now have the option to buy
an annual license plan (ALP) that has to be renewed each year. The
Sage 50 Payroll Exchange annual licence plan includes the software
plus legislative updates, online HR advice and Sage telephone support.
If you have more than 50 employees you can choose to either buy
a traditional style perpetual licence with standard Cover or Cover
Extra or a subscription licence which means you will always be on
the latest version and also includes legislative updates, online
HR advice and Sage telephone support.
Need help choosing which Sage Payroll
software is right for your business? Perpetual or Subscription Licence?
For help deciding whether you want to buy a perpetual or a traditional
style licence or even a People Package that also includes HR software,
HR Advice professional as well as Sage 50 Payroll Professional with
Sage Cover Extra and for multi-company versions of Sage 50 Payroll
or Sage 50 Payroll Professional software please contact us on 07596 617351 for a quick quote and some help.
Users of Sage 50 Payroll Professional that buy a multi-company
version can manage multiple payrolls and this provides an ideal
payroll solution for businesses with several companies or those
companies that offer a payroll bureau service to their customers.
This provides a flexible way to simultaneously process a number
of important payroll tasks across all or selected companies saving
you time and effort including updating all companies with the same
date, print payslips for all companies together and print any pre
or post update reports for all companies.