State Pension Age The State Pension age is the earliest age that an individual can start receiving their State Pension, and is worked out based on the date of birth. If an employee chooses to continue to work after reaching their State Pension Age then their subsequent earnings are not liable to employee National Insurance…
DetailsPayroll corrections in PREVIOUS tax years If you notice a mistake in your payroll after filing your final FPS for the year you can make the relevant changes in Payroll Manager and then submit a ‘Year End Amendment FPS’ (YEA-FPS) to inform HMRC of these changes. This is a new facility that has been introduced…
DetailsPayroll corrections in the CURRENT tax year Please follow this guidance if you need to correct an error for tax year 2019-20. If your correction relates to an earlier tax year, or if you have already submitted the last FPS of the current tax year, then please see the ‘Corrections in Earlier Tax Years’ section…
DetailsPayroll corrections for tax years 2017-18 and earlier HMRC will not accept amended FPS returns for tax years 2017-18 or earlier and instead require that you file and ‘Earlier Year Update (EYU)‘ using HMRC own ‘Basic PAYE Tools’ software instead. Details of how to submit an EYU can be found on HMRC website (below) https://www.gov.uk/government/publications/basic-paye-tools-earlier-year-update-alongside-commercial-software…
DetailsVAT: Domestic reverse charge for building and construction services Overview The domestic reverse charge (referred to as the reverse charge) is a major change to the way VAT is collected in the building and construction industry. It comes into effect on 1 October 2020 (the Government have chosen to delay implementation by one year –…
DetailsPAYE Accounts Office Reference number The employer’s PAYE Accounts Office Reference number is a unique, 13 character code displayed on the vast majority of communications received from HMRC. Accounts office reference numbers all have the same strict format: The three digit number of your tax office (e.g. 123) Two alpha characters (e.g. PA) Eight numeric…
DetailsDo you need to correct employee pay information for 2018-19? In the past, if you had a correction to make in the payroll for a previous tax year, HMRC required that you sent an ‘Earlier Year Update’ (EYU) to inform them of these changes. HMRC have now changed their rules, and allow the submission of…
Resubmitting the final EPS after sending YEA-FPS On some occasions you may need to resubmit your final EPS for the year – e.g.. if you have made changes to your payroll that have affected parenting pay (SMP, SAP, SPP etc) and have then filed a YEA-FPS to report these changes to HMRC. The EPS allows…
DetailsMTD for VAT – problems and errors Since Making Tax Digital (MTD) for VAT was introduced in April 2019 many Money Manager 7 users have been successfully filing their VAT returns using the new system. We have a separate Making Tax Digital for VAT guide which shows you how to set up Money Manager and…
DetailsCopying a Money Manager data file from one computer to another 1. Making a backup copy of the data file from the first computer First ensure that you have the correct file open on the screen, then from the main menu in Money Manager, click ‘File‘ then ‘Utilities‘ then ‘Backup / Restore‘ and select the…
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