News

Finally we have version 5.0.3 that covers Tax and National Insurance contributions for 2009/10. It was a relief to get the information for Tax changes that will now take effect from 6 April 2009 as well as the new National Insurance calculation routines.

The introduction of the new national insurance band D or ‘Upper Accrual Point’ has shifted the rest of the bands up creating a new band E for the Upper Earnings Limit. There where also some changes to rounding and Directors calculation formula.

Tax Changes

Personal Allowance £6,475
Personal Allowance for people aged 65-74 £9,490
Personal Allowance or people aged 75 and over £9,640
Married Couples Allowance (born before 6/4/1935) aged 75 and over £6,965

(These age related allowances are subject to an income limit which will increase to £22,900.)

Minimum amount of Married Couples Allowance £2,670
Blind Persons Allowance £1,890

The Income Tax rates remain unchanged, but new Income Tax bandwidths will take effect from 6 April 2009 and revised payroll software must be used from this date. The revised bandwidths are

Basic Rate 20% Bandwidth £1 to £37,400
Higher Rate 40% Bandwidth £37,401 and above.

The code for emergency use with effect from 6 April 2009 is 647L.

National Insurance Changes

Lower Earnings Limit £95 a week
Earnings Threshold £110 a week
Upper Accruals Point £770 a week
Upper Earnings Limit £844 a week

From April 2009 the contracted-out rebates remain as follows:

Contracted-out Salary Related Schemes (COSR), 3.7% for employers and 1.6% for employees
Contracted-out Money Purchase Schemes (COMP), 1.4% for employers and 1.6% for employees.

Note to Existing subscribers of Timesaver:Calc for Tax 2007.

If you have not received an email explaining the move of the Timesaver: product range, please drop an email to admin@payesoft.com with your new email address. There have been some emails bouncing back. For now we are concentrating on getting existing users up and running with the new version 4.

We will honour you previous renewal agreements, so if you purchased the software last year, you will get it this year at the renewal price.

Click here for out prices.

Print your own calculated Payslips online with WEBcalc NEW! WITH 2009/01

We have added printable payslips to WEBcalc. Now you can customize payslips with your company name and employee details. Try it out click here