Published on 1st February 2008
The new HMRC Payroll Standard has been launched for the 2008/2009 tax year. New logos and options are now featured to enable employers to identify relevance for their needs and purposes.
Following a year of consultation, HMRC has improved the Payroll Standard to be more relevant, applicable and inclusive to the Payroll market and industry. The scope of inclusion has drifted towards larger and more specialised employers and more towards the mainstream software and service providers that the original Inland Revenue Payroll Standard was intended.
Some current standards-compliant products could have been considered as failing the basics of the Payroll Standard requirements themselves, concerning:
With extremely capable and feature-rich payroll/pension, services and Bureaus in effect excluded from achieving the former Payroll Standard, and following extensive industry and employer representative consultation, HMRC has revised and enhanced the Payroll Standard to enable it to be more relevant, applicable, and robust for the needs of the Payroll Industry as a whole.
We now have the:
No longer are pension payrolls required to calculate NICs or Directors' NICs, or deal with payroll frequencies that are irrelevant, yet the providers of such services may now be recognised and listed as meeting this new standard. This must be a positive move for the Pension Payment industry as many of the prior standard-accredited list would fall well short of the Pensioner Payroll requirements.
In the next issue of Ceridian Connection, find out more about the Core standard and optional features of the new Payroll Standard.
If you'd like our experts to take of your Payroll concerns, call us on 0800 0482 737 for further details.
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