Payroll corrections for tax years 2019-20 and earlier It is not possible to send amended FPS returns for tax years 2019-20 or earlier and instead you must file an ‘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)…
VAT: 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 March 2021 and means the customer receiving the service will have to pay…
PAYE 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…
MTD 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…
Copying 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…
How Tax Relief and the Earnings Contribution basis affect pension contributions If you wish to check that an employee is having the correct pension deduction made from their pay, it is important that you understand how tax relief and the earnings contribution basis affects these deductions. Tax relief: When using a Relief at Source (RAS) pension scheme…
Taking on a payroll at the start of a new tax year This guide gives details of what you should do when taking over a payroll at the start of a tax year i.e. where the payroll has previously been processed by someone else /other software/another accountant etc in previous years, and you are processing…
Making Tax Digital (MTD) for VAT HMRC is changing the way you submit your VAT Returns (although in practice, for users of our Money Manager software, there is very little difference). From April 2019, most VAT registered businesses with a taxable turnover above £85,000 must keep their VAT records digitally and use Making Tax Digital…
Bitdefender Safe Files Bitdefender ‘ provide antivirus/Firewall/Security software which you may have installed on your computer. One of the features of Bitdefender is an item called ‘Safe Files’, which is designed to stop applications from saving files on your computer. A number of Payroll Manager users have reported that ‘Bitdefender Safe Files’ is causing problems…
Hourly Pay and displaying ‘hours worked’ on a payslip By law, all employers must show the number of hours worked on payslips where the pay varies by the amount of time worked. (see ‘Employment Rights Act Amendment’ in ‘Links’ section below.) This guide gives details of how to use the ‘Hourly Pay’ columns in Payroll…
