Pegasus Opera II makes Online Filing Easy

Leading payroll specialist issues definitive guide

6 September 2004

Government legislation is changing the way organisations complete and send their Employer's Annual Returns to the Inland Revenue with the introduction of Online Filing. For employers with 250 or more personnel this will be compulsory by May 2005, for those with between 50 and 249 employees by May 2006 and for companies with less than 50 employees by 2010. Pegasus Software, one of the UK's leading providers of financial, business and payroll software solutions, has recognised the levels of uncertainty regarding the legislation and produced an Inland Revenue approved Online Filing Guide that explains the whole process and provides valuable advice to assist companies of all sizes to comply and adhere to this new legislative procedure.

The Pegasus Online Filing Guide outlines the simplicity of adopting this new method of working. Sending and receiving information online is secure, convenient, quick and straightforward and offers a more reliable and efficient alternative to traditional paper-based systems. In addition, the costs involved with the processing, storing and posting of documents to the Inland Revenue, the administrative effort associated with paper returns and the chance of data entry errors or information being misinterpreted can all be reduced significantly.

However before any of these benefits can be recognised Pegasus stresses that companies must look at their current procedures and begin to plan the necessary changes to their operational practices to ensure compliance with the new legislation. As part of this process, it will be essential that organisations review the functionality of their incumbent technological solutions and systems to assess the extent to which they require modification, upgrades or more fundamental changes.

Gary Turner, managing director of Pegasus, commented: "We believe our guide will demystify the process and hopefully remove some of the pain involved with any change to working practice. We have always been at the forefront of developing software that meets the ever changing needs of our users and this includes incorporating mechanisms that cater for the increasingly stringent regulatory environment in which we all operate. Our payroll solution is no different. Indeed, Pegasus Opera II Payroll has been accredited by the Inland Revenue and we have developed online filing capabilities, namely our Opera II Payroll eSubmission solution, that will ensure companies can adhere to the regulations imposed by this new ruling while benefiting from the indisputable business benefits that result from completing returns electronically."

In addition to providing useful links and contact points, the Pegasus Online Filing Guide provides a step by step review of the new system including a general breakdown of the changes; details on how the Inland Revenue will assess each company; an overview of what is expected in terms of key dates and how to complete online returns effectively and within the strict guidelines; how to manage exceptions, handling End of Year procedures and how payroll bureaux or specialist software can make online filing simple and painless.

Turner concluded: "Effective planning for the change to online submission is as important as implementing new working methodologies or technologies. By issuing our guide we are urging companies of all sizes to start addressing the issues that changing to a new system demands. Our expertise in the payroll sector and our understanding of the processes involved in online filing will be of assistance to today's organisations providing both technical and practical advice that will help make online submissions as simple as a mouse click."

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