Does anyone know if you can change your pay dates in Moneysoft mid year without incurring any problems? My pay dates for a client are set monthly - so have 12 pay dates. They now want to pay 4 weekly . Any help would be greatly appreciated.
Hi Georgie. When you try to change them you receive a pretty stiff warning not to. The advice I've seen was to put each employee through the P.45 leaver/starter procedures and use the new frequency from then onwards.
Maybe they will leave it when you give a sharp intake of breath and shake your head as you give them a very high quote. Then tell them leaving it until the beginning of the new tax year would be much less interference with the records.
Payroll can be very messy in general and unless the client keeps it simple it is difficult to stick to a payslip-per-month quote.
That's exactly what I did...hit them with a lovely large amount...so they have decided to leave things till next year. (Thank god) !! Is it me or are you constantly worrying about your clients deadlines, late payments of VAT etc? I think I had about 2 hours sleep last night worrying about this and other things and I Know that it'll get worse over the next couple of months.
Do you know that the self employed earn less, work longer, have less pension entitlement and take less holidays than employees. That's why we can empathize with our clients so much lol.
Everything has to be done yesterday now. Several times in the early 80s we were doing 12-16 VAT Returns at once. No late filing penalties meant clients could leave it. VAT was only ten years old and was introduced with kid gloves.
Things have swung back too far the other way now. There's no need for weekly RTI for a start.
Got one at the moment who was given duplicated personal allowances at the same time as losing two family members. He lost his job due to anxiety attacks over the latter then incurred £3000 of penalties for not filling in tax forms.
An ex-inspector told me last week that only using 20% of the RTI information is being used for Universal Credit purposes. I suspect that % is a gross simplification. Anyway the question should be how much has RTI speeded up tax credit applications/ renewals.
The tax problems added to the anxiety that lost him his job to which HMRC could have coded out the underpayment instead of putting him on self assessment.
The place where he had the part time job can pay less because they just give everyone full tax allowances. Other similar employers are struggling to make a profit.
I'm hopeful of getting the tax and the penalties written off. The member of parliament should do the trick if I don't get a positive reply from HMRC.
Hi Georgie Ive not had this specific experience in Moneysoft but what I can say is that they do have a very good helpdesk so its worth giving them a call, or emailing them.
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
