Dear Subscriber,
I hope you're reading this on the day of publication. Because that means I'm not the only one working today ;-)
This is the last newsletter of the year so this issue inlcudes a round-up of all the best additions to the PayPerShop website during 2004. This is a good chance to catch up with anything you might have missed.
Another new feature as of today is a Payroll Tools page specifically for our US visitors. It isn't quite as full as the UK version but we'll continue to add to it over the coming months. If you know of a tool or calculator that you think we should link to, please email me the details.
Visit the US Payroll Tools page
Visit the UK Payroll Tools page
Naturally, this newsletter also contains the latest UK, US and Worldwide Payroll news, press releases and highlights from the PayPerShop Forum.
Hope you enjoy reading. Best wishes,
When you enter the PayPerShop website, if you are having trouble seeing the latest pages, try clicking the REFRESH button on your browser while, at the same time, holding down the CTRL key on your keyboard. This forces your browser to refresh the cache and search for the latest version of the page.
Best wishes.
David Congreave
Editor / Web Administrator
david@paypershop.com
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Meet Our Sponsors
A.R.K. Business Analysis Ltd is a corporate finance research publisher dedicated to accurately mapping complex B2B markets. For the UK, they provide detailed and comprehensive coverage of over 100 software developers in payroll, over 80 HR software developers, as well as mapping over 100 advice and consultancy and advice businesses in personnel and safety.
They offer three comprehensive reports currently:
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These exclusive and comprehensive Reports are available to the suppliers in these markets, and provide:
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- Key profit & loss, balance sheet, and employee benchmark trends
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2004 - PayPerShop Highlights
Last week we announced the development of a new Payroll and HR recruitment website. Use the form on the homepage to send us your email address and we'll keep you up to date with its development.
Visit the PayPerWork website
Usually you have to visit an exhibition or a conference to get payroll professionals, developers and experts under one roof.
The PayPerShop Forum is a message board that lets you mingle with others in the payroll and HR industry. You can post questions, assist others with their queries or just read the current discussions and debates.
The PayPerShop Forum is open 365 days a year and is totally free to use. If you've yet to try this feature out, you're missing one of the most unique areas of the PayPerShop website.
Visit the PayPerShop Forum
So far, three in-depth features have been made available absolutely free of charge.
- The Law on Data Handling
- Choosing Payroll Systems and Services
- Identity Fraud
View the PayPerShop Features
Earlier in the year, the "What's New" page was replaced by the PayPerBlog.
This weblog provides a detailed archive of each new addition to the PayPerShop website. The PayPerBlog also allows us to take advantage of the versatile RSS format. More on this below.
Visit the PayPerBlog
Perfect for the PayPerShop completist, every new addition to the PayPerShop website is announced via our site feed. Subscribe to this feed and you'll never miss anything PayPerShop has to offer.
If you're unfamiliar with RSS and how to use them, you can read a simple article on how to use and understand RSS by clicking the link below.
Using & Understanding RSS
View the PayPerShop Site Feed
RSS technology offers PayPerShop users the ability to syndicate our site feed.
Copy and paste a small piece of code onto your website and you can display this image for your visitors convenience.
Learn how to syndicate PayPerShop
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Latest UK Payroll News
The payroll news published by HRD & Payroll Solutions each week is researched and written up by Ian Congreave. The material is copyright to HRD & Payroll Solutions but they have kindly given permission for it to be reproduced regularly in PayPerShop.
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The latest issue included the following items:
To view previous items and other related articles, go to PayPerShop.com and follow the links under the menu heading "NEWS".
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US State Links
The links on these pages are organised by state.
To view previous items and other related articles, go to PayPerShop.com and follow the links under the menu heading "NEWS".
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Latest US Payroll News
Each week, PayPerShop publishes the latest US payroll news compiled by Ian Congreave.
The latest issue contains the following items:
To view previous items and other related articles, go to PayPerShop.com and follow the links under the menu heading "NEWS".
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Latest Payroll News Worldwide
The latest issue contains the following items:
To view previous items and other related articles, go to PayPerShop.com and follow the links under the menu heading "NEWS".
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Press Releases
The Press Releases page is sponsored by Midland HR & Payroll Solutions.
Midland HR & Payroll Solutions is uniquely positioned in the market, able to offer both best-of-breed software as well as a range of managed services tailored to meet customers' individual needs.
Each week, PayPerShop publishes the latest press releases in the industry.
You can view our archive of Press Releases at www.paypershop.com/cool1.html
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Highlights
| The PayPerShop Forum is moderated by PayPerShop, NorthWest Payroll Services and Selven Group plc:
If you would like to be considered as a PayPerShop Forum moderator, either as a company or as an individual, please write to david@paypershop.com
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Subject: Employee of the Quarter Awards
Poster: alison
Does anyone have any experience regarding gift vouchers given to employees on a regular basis in the form of Employee of the Quarter Awards (ie incentive awards). If so, how have you dealt with the tax and ni implications of the non cash payment?
To reply to this post, click HERE
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Subject: Employee of the Quarter Awards
Poster: AnnL
Although I agree in general with the reply posted I would suggest that you could actually process this through the payroll.
Vouchers are, in this case, taxable and nicable. To pay through the payroll you could show the voucher amount as an advance of pay, using a suitable element on the payroll which would deduct tax and nic, then deduct the actual amount of the vouchers as advance recovered.
If the employer wishes the employee to end up with the exact amount of the vouchers then the amount is grossed up to take account of the tax and nic deductions.
The other way is, as previously suggested, for the employer to pay the associated costs by entering into a PSA with the Inland Revenue.
Hope this helps
_________________
Ann Lyons
To reply to this post, click HERE
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Subject: Employee of the Quarter Awards
Poster: Ian Congreave
Well, we have a few different views here. Thanks to Hugo and newcomer Ann for their contributions.
The Inland Revenue's guidance is contained in the CWG2 Further Guide to PAYE and NICs, pages 22-25.
There are two kinds of vouchers, cash vouchers and non-cash vouchers.
A cash voucher is a voucher, stamp or similar document capable of being exchanged for a sum of money that is greater than, equal to, or not substantially less than, the expense incurred by the person at whose cost it is provided. So, if a vouchers says £5 on it, and it can be exchanged for £5, it is a cash voucher. There aren't many kinds of cash vouchers, premium bonds would be an example, and they are always treated as cash, added to gross pay for both PAYE and Class 1 NICs.
But Alison's question is about non-cash vouchers under an incentive scheme.
A non-cash voucher is
- a voucher, stamp or similar document or token which is capable of being exchanged for money, goods or services,
- a “transport voucher” e.g. season ticket, or
- a “cheque voucher”, i.e. a cheque,
but that is not a cash voucher.
First, it must be said that there are many non-cash vouchers that are not taxable at all. If the benefit for which the voucher can be exchanged is not itself taxable, the voucher is not taxable either. There are lots of examples on page 24 of CWG2 and, although they are listed in the context of NICs, they mostly apply also for tax.
For tax purposes, non-cash vouchers are reported on form P11D if the employee's earnings exceed £8,500 pa, or otherwise form P9D. Both forms have specific sections for reporting vouchers. Non-cash vouchers are reported at the value incurred by the employer in providing them, not necessarily their face value.
The reason that vouchers are reported as benefits at the year end is that the employee may be able to claim a deduction of expenses, thereby negating the charge. However, if the vouchers have been put throught the payroll and tax deducted that way, they must still be reported on form P11D or P9D and the reported benefit reduced by the amount on which tax has already been deducted.
There is no Class 1A NICs liability on non-cash vouchers reported on form P11D. Rather there is a Class 1 NICs charge through the payroll, also at the cost to the employer in providing them. Note carefully, and this is very important: the Class 1 NICs charge arises in the earnings period in which the vouchers are provided. If, say, they are provided just before Christmas, their value must be added to gross pay for month 9, and Class 1 NICs liabilities calculated accordingly. For tax purposes, they are not reported until after the tax year end.
Especially in the context of incentive awards, many employers meet their employees' tax and NICs liabilities through a PAYE Settelement Agreement. They are expensive, but the award does not lose its incentive value.
Lots more information in the CWG2 booklet - very useful booklet - keep one handy in the office.
_________________
Ian Congreave, PayPerShop owner
To reply to this post, click HERE
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If you need any assistance with the forum, please email david@paypershop.com or call direct on +44 (0)113 293 1303 and we will be happy to help you get started.
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PayPerShop.com is owned by Paypershop Ltd, 11 Grange Park Grove, Leeds, UK, LS8 3BY
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