This time of year annually brings our payroll upgrade complete with all the legislative changes required to run your tax year end. The Payroll Upgrade for the 2024/25 tax year will be available to payroll customers from early February.
There are the usual changes such as uplifts to the standard rates for SSP, SMP, SPP, ShPP, etc., updated PAYE for Scottish tax payers, Student Loan Thresholds uplifts and so on. However, there are also new elements that have been introduced such as NIC relief for employers who operate in designated Investment Zones. New NI Codes will be available for an application of a zero-secondary rate for employer NICs for employees’ earnings above the Secondary Threshold up the Upper Secondary Threshold.
All of the changes to the payroll are included in three excellent documents;
The F1 help has also been uplifted to detail all of these changes.
Posted On: January 25, 2024
