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Year-end is just a question of printing the required reports and uploading the file produced by the online filing option. Online Filing will be compulsory by 2009-2010 and most payroll software now offers this facility. Bright Payroll has had the on-line filing capability since the 04/05 year end.
The tax-free amount for any company with less than 50 employees is available as follows: File online for 2005-06 and get £250 File online for 2006-07 and get £150 File online for 2007-08 and get £100 File online for 2008-09 and get £ 75
The amount will be credited to your PAYE payment record. You can then offset it against future payments to the Inland Revenue, or you can claim it back. It was compulsary for large employers (with 250 or more employees) to file the 2004-05 end of year return online There are other benefits of filing online: Security of data via the Government Gateway System Convenient and quick – no need to wait for the post Immediate confirmation of receipt Errors can be picked up quickly You can file your return online as soon as the tax year has ended
Perhaps the best thing of all is that by purchasing the software, the rebate from the Government will more than cover the software price.
The price of the software includes telephone or email support and updates as necessary during the year. There is then a renewal fee for subsequent years.
Using Bright Payroll has many advantages:
Cheaper than using accountant or agency Much quicker than a manual system especially at year-end No knowledge of PAYE is needed Integration with your accounting software Professional looking printed payslips Online Filing of year-end reports with the associated incentives
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