Release 4.12.00

Version

4.12.00

Released

Oct 2022

Mini-budget 2022: payroll changes

On 23rd September 2022, the government announced changes in the mini-budget that would impact payrolls effective from 6th November 2022.

 This release includes the necessary updates to the Capital Gold Payroll tables and software changes on how Directors National Insurance should be calculated for the remainder of the 2022/23 tax year.

Reversal of the 1.25% NI uplift

From 6th November 2022, the government announced the reversal of the 1.25% uplift on National Insurance Contributions (NICs) wich has been effective from 6th April 2022.

The payslip message, “1.25% uplift in NICs funds NHS, health & social care”, which was introduced on 06 Apr 2022 can be removed from 6th November 2022 onwards.

Director’s NICs

There will be new rates for Director’s NICs which will be implemented from 6th November 2022.

Termination Awards and Sporting Testimonial Payments

For the 2022-2023 tax year, the rate for Class 1A NICs due is 14.53% unless Class 1A NICs are due on Termination Awards or Sporting Testimonial Payments that are reported through Real Time Information (RTI).

Class 1A NICs rate on the Termination Award amount above £30,000, or for a Sporting Testimonial Payment above £100, 000 will be 15.05% if the payment of general earnings or amount is made before 6th November 2022. The rate will be 13.8% if the payment of general earnings or amount is made on or after 6th November 2022.