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April 22, 2020
Here’s the Easiest way to Stay up-to-date with New Payroll Legislation
Whether you’re a payroll professional, a HR Manager, or a business owner, keeping on top of new payroll legislation is hard work. Just when you think you’re compliant – there’s something new to remember!
And getting your payroll calculations wrong can incur hefty fines from the HMRC. It can also damage your company’s reputation – remember the companies named and shamed in 2018 for failing to pay National Minimum Wage?! What’s more, incorrect payments can harm your employee morale, which undoubtedly has a knock-on effect on productivity.
With this in mind, let’s take a look at the easiest way to stay up-to-date with new payroll legislation.
Your payroll software should always be up-to-date and in line with current payroll legislation. A good payroll provider will implement product updates on a regular basis to ensure your software is accurate and compliant.
Payroll providers employ developers and payroll experts who work hard to ensure their payroll software can cope with the impact of new legislation, such as the Job Retention Scheme (JRS).
Calculating payroll for furloughed employees as part of the JRS is complicated! For instance, designating furloughed workers in the payroll system, using appropriate pay codes, payment of holiday pay, the impact on Statutory Sick Pay and Maternity Pay, implications for National Minimum Wage workers, average pay calculations for zero or irregular hour workers, dealing with over payments and paying apprentices – to name just a few challenges!
But calculations like these – and worrying about complying with the new legislation – shouldn’t be keeping you awake at night. Your payroll software could be taking care of this for you!
Moorepay’s Payroll Software Updates: The Job Retention Scheme
To help manage and pay furloughed employees, we’ve already developed and implemented the following features and updates to our payroll & HR software:
System flag to indicate a furloughed employee
History table to show employee furlough dates
Two new pay codes to support furloughed employees
An average pay calculation to define workers of irregular hours pay
Ability to calculate 80% for salaried employees using February 2020 Salary
Ability to look up previous year for irregular hours workers
Report functionality showing 80% furloughed value, Employers National Insurance and Employers Minimum Auto Enrolment calculations
This is just one of the many ways we’re ensuring our customers are always compliant with the latest payroll legislation. So they don’t need to worry so much about new legislation – we take care of it for them.
One More Thing: Access to a Team of Experts
Whether you use payroll software or a managed service, if your business is paying for a payroll service, you should have access to a team of dedicated payroll experts.
Some providers use ticketing systems, so you’ll need to raise a ticket using an online system that could take anything from a few hours to a few days to be answered – depending on the quality of service from the provider.
Other payroll providers offer a dedicated account manager, so you’ll be able to pick up the phone or send them an email directly.
Either way, it’s important to be able to contact your provider to get the answers you need. Whether it’s how to apply the latest payroll legislation change, or how to make a specific calculation; your provider – and their team of experienced payroll professionals – should be there to help you.
At Moorepay, our customers contact their dedicated account manager when they need help applying payroll legislation and making accurate calculations. It’s one of the ways we’re #keepingtheUKpaid – ensuring businesses are compliant with the latest changes to payroll legislation.