The all new Payroll is here
We’ve been talking about this for a while now, and the time has finally come to lift the lid on our new 2013/14 Payroll engine.
If you’ve used FreeAgent's payroll in the past then a number of things have changed for 2013/14, the most significant of which is a new workflow designed to support real time (RTI) filing of PAYE data to HMRC.
It all sounds a bit scary but we’ve tried to make the whole process as simple as possible. It goes like this:
- Start by creating Payroll Profiles for staff on your payroll
- Run Payroll once a month to create payslips
- Submit PAYE information in real time (RTI) to HMRC
So instead of creating a year’s worth of payslips at the start of the year, you’ll now run the Payroll every month, submitting PAYE information to HMRC at that time.
Take a look at the Knowledge Base for our guide on setting up 2013/14 Payroll.
The ins and outs
In addition to supporting RTI filing, we’ve overhauled our payroll engine including properly supporting student loans.
For a full rundown of what the new Payroll system supports see this article.
Preparing for RTI
From today you can update employee information and start creating payslips for April 2013 in FreeAgent. You'll notice that your payslips will be marked as Unfiled until you are able to submit the data to HMRC.
From April 6th you’ll be able to complete the Payroll and submit this information through to HMRC in real-time. We'll provide another update when this goes live, and it'll be backed up by help on our Knowledge Base as usual. You can also contact our Support Team if you need any help.
In the mean time, download our free Getting ready for RTI guide so you're fully prepared for the big switchover.
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