Please find below the guides available for the following: Payroll Upgrade Checklist Guide Legislative & Software Changes Rates and Bands for NI, PAYE and Stat. Payments We are excited to announce that the Annual Payroll Seminar from o-a-sys is back for another year, bringing Pegasus Payroll directly to your desk. With year-end fast approaching our complimentary Pegasus End of Year Payroll Seminar is a great way to prepare your business for the months ahead. This seminar is designed to provide you with the latest HMRC legislative and technical changes that will be introduced into your payroll software. This year we had Bruce Kidd from o-a-sys to cover everything new regarding Opera 3 Payroll 2024 and run through the year end. We will also give an update on new utilities available for Pegasus Payroll. This is a recording of the 7th March 2024 webinar. Today, 6 March 2024, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Spring Budget and set out the government’s plans to bring forward a series of reforms to ensure the tax system is simple, fair, keeps pace with economic developments, and supports public finances. One of the tax measures relevant to you as an employer was on National Insurance contributions.
The government has announced a cut to the main rate of Class 1 employee NICs from 10% to 8% from 6 April 2024. Taxes for the self-employed will also be cut by a further 2 pence on top of the 1 pence cut to 8% announced at Autumn Statement. This means that from April 2024 the main rate of Class 4 NICs for the self-employed will now be reduced from 9% to 6%. We ask that you take steps now to start work with your payroll software provider, and where applicable IT delivery partners, to get ready to implement the change to Class 1 employee NICs that comes into effect from 6 April 2024. HMRC’s Basic PAYE Tools product will be updated to reflect this latest change. Another measure the government announced was on the High Income Child Benefit Charge, and an increase to the threshold to £60,000 from 6 April 2024, with a taper up to £80,000. The charge will be 1% of the Child Benefit for every £200 of income that exceeds £60,000 and will equal the payment for income that exceeds £80,000. Your employees may be interested in claiming Child Benefit or restarting Child Benefit payments if they have previously opted out. The charge is tapered, so if they, or their partner, earns between £60,000 and £80,000 it can still be worth their while financially to claim. Claims for Child Benefit can be made in the HMRC app or online and are automatically backdated for 3 months, or the date of birth of the child if later. New guidance on the charge has been published today and you may wish to share this with your employees. Further information on both the NICs and High Income Child Benefit Charge measures can be found on GOV.UK. Information on all of the measures announced can also be found on GOV.UK. For an overview of all the tax legislation and rates announced, read the Overview of tax legislation and rates (OOTLAR). HM Revenue and Customs In the spirit of the season, the o-a-sys team extends warm wishes to you and your family for a Merry Christmas and a New Year filled with joy, happiness, and success.
As we reflect on the year gone by, we are grateful for the support of our valued customers, dedicated suppliers, and cherished friends. Your partnership has been instrumental in our success, and we look forward to our continued collaboration in the coming year and beyond. In lieu of sending Christmas cards, we've chosen to make a contribution to local charity Porchlight for the incredible work they do to combat homelessness and help the vulnerable. With values like inclusiveness, integrity, compassion, empowerment, passion and innovation they are changing lives. For further details about the impactful work undertaken by Porchlight, please visit their website. Our special holiday opening times ensure that we remain available to assist you during this joyful time of the year. Christmas and New Year Opening Hours We will be open every working day during the Christmas and New Year period, with our telephone support lines open during the following times. Friday 22nd December - 09:00 - 17:30 Monday 25th December - Closed Tuesday 26th December - Closed Wednesday 27th December - 10:00 - 15:00 Thursday 28th December - 10:00 - 15:00 Friday 29th December - 10:00 - 15:00 Monday 1st January - Closed Tuesday 2nd January - 09:00 - 17:30 normal opening hours resume Support queries can be logged outside our opening hours by email to support@o-a-sys.co.uk or by completing the Support Request form on our website. If you have any queries, questions or concerns about these timings, please do not hesitate to contact us . Merry Christmas! The o-a-sys team Exciting news! On November 29th, we hosted a stellar launch for AP Automation to our esteemed Pegasus Opera 3 customers. The dynamic duo, yourself, and the incredible Steve Power from Pegasus, steered us through a journey of innovation and efficiency. Now, presenting the recording of this groundbreaking event, capturing insights, discussions, and the spirit of collaboration. Buckle up for a replay that's bound to redefine the future of our financial processes! In 2019 HMRC introduced a permanent easement on reporting PAYE information in real time. We are aware some employers pay their employees earlier than usual over the Christmas period. This can be for a number of reasons, for example, during the Christmas period the business may close, meaning workers need to be paid earlier than normal.
If you do pay early over the Christmas period, please report your normal or contractual payday as the payment date on your Full Payment Submission (FPS) and ensure that the FPS is submitted on or before this date. For example, if you pay on Friday 15 December 2023 but the normal or contractual payment date is Friday 29 December 2023, you will need to report the payment date on the FPS as 29 December 2023 and ensure the submission is sent on or before 29 December 2023. This will help to protect any of your employees who are eligible for Universal Credit. Reporting the payday as the date payment is made may affect current and future entitlements to Universal Credit. The overriding PAYE reporting obligation for employers is unaffected by this exception and remains that you must report payments, on or before the date the employee is paid. Yours faithfully HM Revenue and Customs Dear customer,
Today, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Autumn Statement speech. The Autumn Statement package sets out a number of tax measures designed to strengthen economic growth through supporting British businesses and increasing the number of people in work. The statement also announces a range of administrative changes which make the tax system simpler and more modern, ensuring businesses can interact with it more easily. Some of the key measures are detailed below, and information on all the measures announced today, including the annual uprating of duties and rates, can be found in the Autumn Statement 2023 and in other documents from the Office for Budget Responsibility. An overview of all the tax legislation and rates announced today is also available. Tax Information and Impact Notes (TIINs) contain more detail on the impact of measures that are being legislated for. National Insurance contributions (NICs) rates The government has announced a cut to the main rate of Class 1 employee NICs from 12% to 10% from 6 January 2024 and a cut to the main rate of Class 4 self-employed NICs from 9% to 8% from 6 April 2024. It has also announced that no one will be required to pay Class 2 self-employed NICs from 6 April 2024. Details of this change are: • from 6 April 2024, self-employed people with profits above £12,570 will no longer be required to pay Class 2 NICs but will continue to receive access to contributory benefits including the State Pension • those with profits between £6,725 and £12,570 will continue to get access to contributory benefits including the State Pension through a National Insurance credit without paying NICs as they do currently • those with profits under £6,725 and others who pay Class 2 NICs voluntarily to get access to contributory benefits including the State Pension, will continue to be able to do so The government will set out next steps on Class 2 reform next year. We will be publishing further guidance on these changes shortly, in the meantime we would ask that you take steps now to start work with your payroll software provider, and where applicable IT delivery partners, to get ready to implement the change to Class 1 employee NICs that comes into effect from 6 April 2024. HMRC's Basic PAYE Tools product will be updated to reflect this change. Extending the National Insurance contributions (NICs) relief for hiring veterans The government has extended the NICs relief for employers who hire former members of the UK regular armed forces until 5 April 2025. This provides a relief to employers on the secondary Class 1 NICs due on the wages of veterans for the first 12 months of their first civilian employment. The relief applies to earnings up to the Veterans Upper Secondary threshold, which is £967 per week. Capital Allowances – permanent full expensing At Spring Budget 2023, the government introduced two new temporary first-year allowances. For qualifying expenditure on the provision of plant or machinery incurred on or after 1 April 2023 but before 1 April 2026, companies can claim a 100% first-year allowance for main rate expenditure – known as full expensing – and a 50% first-year allowance for special rate expenditure Today’s announcement makes full expensing and the 50% first-year allowance permanent by removing the expiry date of March 2026. Tax reliefs A range of measures on tax reliefs have been announced, including enhanced support for Research and Development (R&D) intensive small and medium-sized enterprises, an extension to the 'sunset date' for freeport tax reliefs and administrative changes to the creative industry tax reliefs. Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) design changes The government will make design changes to MTD for ITSA, simplifying and improving the system for taxpayers and their representatives. The requirement to provide an End of Period Statement will be removed and some taxpayers, including those without a National Insurance number, will be exempted from MTD. Taxpayers who are using MTD will be able to be represented by more than one tax agent. Draft regulations will be published for technical consultation later in 2023. National Minimum and Living Wage Uprating 2024 to 2025 From 1 April 2024, the National Living Wage will increase by 9.8% to £11.44 an hour for eligible workers across the UK aged 21 and over. Young people and apprentices on the National Minimum Wage will also see a boost to their wages, which will increase to £6.40 an hour. Off-Payroll Working (IR35) – calculation of PAYE liability in cases of non-compliance The government will legislate in Finance Bill 2023 to enable organisations to reduce their additional PAYE liability under the off-payroll working rules, to account for Income Tax and Corporation Tax already paid by a worker and their intermediary where a client organisation has been found to be non-compliant with the rules. The changes will take effect from 6 April 2024. A summary of responses to the consultation launched in April 2023 has also been published. Yours faithfully HM Revenue and Customs Dive into the future of seamless Payroll & HR management with Opera 3! Here are some stellar facts: 1️⃣ Unlimited Scalability: Manage multiple companies and employees effortlessly – it's the standard, because why settle for less? 2️⃣ HMRC Harmony: Stay worry-free with full HMRC compliance. Your payroll is in safe hands. 3️⃣ Tech Integration Magic: Develop a symphony of efficiency by linking Time & Attendance systems seamlessly. 4️⃣ P11D Made Easy: Navigate the complex world of P11D effortlessly with our dedicated software. 5️⃣ Pensions Perfection: Add a touch of finesse with NEST and NOW pensions integration – because your employees' futures matter. 6️⃣ Tax Code Tango: Stay in rhythm with HMRC. Link up for swift tax code changes. 7️⃣ Statutory Payment Simplified: Effortlessly handle statutory payments like a maestro, making compliance a breeze. Ready for a revolution in your Payroll processes? Stay tuned for our upcoming datasheet release – unlocking a world of possibilities! #Opera3 #Pegasus #PayrollHR 👋 As we reflect on the challenges of the last few years, it's time to revisit our insightful and heart warming chat series (Just checking in......) with some of the best businesses in the UK. Each episode delved into their journey, struggles, and inspiring adaptations. Each episode is based on three simple questions: 1. Who are you and tell us a bit about what you do? Our guests shared their stories, giving us a glimpse into the passion and dedication behind their businesses. From local gems to hidden treasures, we uncovered the vibrant tapestry of the UK business landscape. 2. How has 2020 affected you so far? The candid discussions about the impact of 2020 were both raw and real. We explored the challenges they faced, the hurdles that seemed impossible, and the moments that tested their resolve. 3. What positive change have you made to adapt to that? But it wasn't all about adversity; it was about resilience. Our guests didn't just weather the storm; they set sail in new directions. We learned about the positive changes they embraced, the innovative pivots, and the collective spirit that defines the UK business community. 🎬 Watch the trailer now for a sneak peek! https://www.youtube.com/watch?v=e2O21-SdL-Q 🎬 Watch all episodes: https://youtube.com/playlist?list=PLoLT73xVXQ6RK5XzpQ8_gNs4pYBaSyyWB&si=tJ_hNMN1xQSUlBfd And don't miss the end for some hilarious outtakes that capture the lighter side of these incredible conversations. It's not just informative; it's fun, enlightening, and, at times, downright hilarious! 😄 Let's celebrate the strength, adaptability, and humour that define us. Stay tuned for the journey down memory lane, and here's to the power of positivity in the face of adversity! 🌈🌟 #Throwback #BusinessResilience #PandemicChatSeries See our exciting new Accounts Payable (AP) application for Opera 3 SQL SE in action by watching our demo video below. Introducing AP Automation for Pegasus Opera 3 SQL SE: Revolutionizing Your Accounts Payable in 2023!1/9/2023
In the ever-evolving landscape of business operations, staying on top of your invoices is paramount. Accounts payable departments have long grappled with the challenges of managing a mountain of invoices, risking late payments, and even fraudulent activities. But fret not, for the future of financial management is here – AP Automation for Pegasus Opera 3 SQL SE! Why is AP Automation an absolute must-have in 2023? Let's dive into the reasons:
Don't miss the opportunity to revolutionize your accounts payable processes. The Pegasus Opera 3 SQL SE AP Automation is your gateway to efficiency, visibility, and security in 2023 and beyond. Join us in this exciting journey towards financial excellence! Operational Accounting Systems Limited trading as o-a-sys partners with Pegasus Software as their AP automation partner.
Ashford, Kent, UK: o-a-sys today announced an ongoing partnership with Pegasus Software. This new partnership will give o-a-sys’s customers access to best-in-class supplier invoice automation. “We are very excited to carry on with our Pegasus partnership, says Bruce Kidd, Sales & Marketing Director at o-a-sys. “AP Automation will save time, money and eliminate needless errors in processing Purchase Invoices.” “I am proud to witness the transformational power of AP Automation within Pegasus. With streamlined processes and cutting-edge technology, we are soaring to new heights of efficiency and accuracy. Embracing AP Automation has not only elevated our financial operations but has also unlocked the potential of our talented team, allowing them to focus on strategic initiatives and driving innovation. Together, we're riding the winds of progress, propelling Pegasus Software towards a future of unparalleled success.” says Julian Cassell, Business Development Manager at Pegasus Software. “ What will be achieved? Invoice capture and Accounts Payable Automation for Opera 3 SQL SE provides the simplest way of capturing and processing invoices and gives AP teams complete visibility to process invoices quickly and make smart budgeting decisions. About o-a-sys: (o-a-sys) is renowned for is setting up, developing and supporting specialist software solutions for small to medium sized businesses in the UK with a focus on Payroll, Pensions, Accounting, Reverse VAT, ECVAT, MTD, Inventory Optimisation, Business Intelligence, Construction Industry Solutions and Integrated Systems. we take great pride in the way that we take care of our customers, whether it is through our dedicated support, specialist development, informative marketing or exclusive events. We are a business that truly puts the customer first with an underlining ethos of integrity and honesty that has seen us through many years of trading and resulted in a number of accolades and loyal customers. About Pegasus Software: Pegasus is an award-winning provider of accounting, payroll and business software, with 40 years’ experience. The aim is simple: to build the finest business tools that will enable tens of thousands of companies like yours to run their operations every day effortlessly and profitably. o-a-sys are delighted to extend a warm welcome to each of you to our exclusive webinar on the groundbreaking Pegasus CIS 5. This innovative solution, an evolution of the renowned Pegasus CIS, is forged with cutting-edge technologies like VB.NET and .net 4.8. Boasting a fresh user interface, it brings forth a plethora of enhanced features and advantages compared to its predecessor. Notably, Pegasus CIS 5 seamlessly integrates with Opera 3 Financials and Payroll applications, as well as Sage 50 and 200. Prepare to embark on a journey of discovery and empowerment with Pegasus CIS 5. For more information and pricing contact Bruce@o-a-sys.co.uk. Pegasus are continually adding new features and enhancements to their multi award winning Opera 3 solution to ensure that their users get the most out of their business and accounting solution. Here are just 30 reasons why you should consider implementing Opera 3 into your business. Join us for a month of celebrating Opera 3. |
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