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> HMRC Changes
HMRC Changes
[For AccountEdge Plus and Network Edition users only]
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Student Loan Deduction changes
From April 2018 the Annual Threshold for Plan 1 has increased to £18,330 and for Plan 2 to £25,000. The deduction rates remain the same at 9%.
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National Insurance Tables
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Tax Tables
The Emergency for 2018/2019 is 1185L (W1/M1).
Scottish Tax Tables
From April 2017 the Scottish Government can vary the rate of Income Tax (PAYE). This rate is determined by the employees tax code. If the first letter of an employees tax is “S” then the Scottish rate (SRIT) should be used.
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For 2018 to 2019 the Scottish rates are as follows:
Starter tax rate is 19% on annual earnings above the PAYE tax threshold up to £2,000.
Basic tax rate is 20% from £2,001 to £12,150.
Intermediate tax rate is 21% from £12,151 to £31,580.
Higher tax rate is 41% from £31,581 to £150,000.
Top tax rate is 46% on annual earning above £150,000.
When processing payroll for the payroll year 2017 and later, if the employees tax code is prefixed by ‘S’, the Scottish Income Tax rates will be used for tax calculations.
RTI - Full Payment Submission (FPS) file will NOT show the ‘S’ prefix.
UK Tax Tables
The 2019 tax rates are the same as the 2018 rates but the PAYE thresholds have changed.
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Employer Allowance
For the 2018 to 2019 payroll tax year the Employer Allowance has remained at £3000.00.
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Non-cash wages
From 2019, the “Non_Cash Wages - Payroll Benefits in Kind’ wages has been added. These wages are subject to PAYE tax. For example, shares and commodities you provide to your employees.
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Employee RTI Full Payment Submission
For payroll year 2019 an “Included serious lump sum payment” option has been added.
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Full Payment Submission
From 2019, going forward, if a Student Loan Deduction was used for an employee this deduction will be included in the Full Payment Submission+.
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Earlier Year Update
The 2017-2018 has been added for payroll year 2019.
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Benefits in Kind (BiKs)
[Displays only if the current payroll year is 2019] Select if you choose to account for the tax on the benefits in kind (BiKs) you provide to your employees through PAYE each payday.
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Car Benefits
From April 2018, as part of payroll benefits in kind, car data must be reported on the RTI Full Payment Submission.
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