Moneysoft - 2014-15 download out today!

Moneysoft - 2014-15 download out today!

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That's it...more of an announcement than a question... I have downloaded (on spare laptop) to test out the new features. Perhaps if anyone notices any issues they can report. Many thanks.

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By DMGbus
28th Feb 2014 13:47

Something to look for

The following is a general point affecting all employers, all payroll agencies and all payroll software:

Something that affects every employer paying National Insurance in respect of wages/salaries is the new need to "tell" their software that they, as an employer, qualify for the [upto] £2,000 Employers Allowance (EA).   Therefore all payroll software needs to have this facility and the software update notes need to point the employer in the direction of this "switch" / point of data entry (tick box or roll down box) to advise the software that the employer does / does not qualify for the EA.

In the meantime all payroll agents, before 6th April 2014, need to be asking their clients if they qualify for the EA.   All employers who prepare their own payroll must address the question too.    There are certain employers who do NOT qualify because of their activity / customer base; further there are some detailed "associated" employer rules to study where applicable.

 

 

 

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By Richard_Carey
28th Feb 2014 13:52

GOV.UK

The following gov.uk may help with this..

https://www.gov.uk/employment-allowance-up-to-2000-off-your-class-1-nics

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Euan's picture
By Euan MacLennan
28th Feb 2014 14:03

Look no further

In Moneysoft, you always have to 'Create a file for next year' to copy over the employer and employee data for the new tax year.  This year, the process will prompt you to answer Yes, No or Don't know to the question 'Does this employer qualify for the Employment Allowance?'.  See item 6 of the Moneysoft guidance.

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By occca
28th Feb 2014 14:37

Associated Companies

Does anyone know the definition for associated companies to qualify?

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By Taxboss
28th Feb 2014 15:27

Employment Allowance

The National Insurance Bill, Schedule 1 defines associated companies by reference to Corporation Tax Act 2010 sections 450 and 451, with an over-ride for associates where there is no commercial interdependence. So essentially the same decision route as for corporation tax small companies rate. LLP's are however deemed to be companies.

As far as can see there is no restriction on multiple sole trades or partnerships having the same controlling party, nor for a company and sole trader both under common control.

 

 

 

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By DMGbus
28th Feb 2014 22:15

Connected parties definition
3 Connected persons(1) This section applies if—(a) at the beginning of a tax year, two or more companies which are not charities are connected with one another, and(b) apart from this section, two or more of those companies would qualify for an employment allowance for the tax year.(2) This section also applies if—(a) at the beginning of a tax year, twoor more charities are connected with one another, and(b) apart from this section, two or more of those charities would qualify foran employment allowance for the tax year.(3) Only one of the companies or charities mentioned insubsection (1)(b) or (2)(b)(as the case may be) can qualify for an employment allowance for the tax year.(4) It is up to the companies or charities so mentioned todecide which of them thatwill be.(5) Part 1 of Schedule 1 sets out the rulesfor determining if two or more companiesare “connected” with one another for the purposes of subsection (1).(6) Part 2 of Schedule 1 sets out the rulesfor determining if two or more charitiesare “connected” with one another for the purposes of subsection (2).(7) In this section and Schedule 1—“charity” has the same meaning as in the Small Charitable Donations Act 2012 (see section 18(1) of that Act),subject to paragraph 8(5) of Schedule1, and“company” has the meaning given by section 1121(1) of the CorporationTax Act 2010 (meaning of “company”) and includes a limited liability partnership. For more see:http://www.publications.parliament.uk/pa/bills/lbill/2013-2014/0065/1406...

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