Release 4.14.00

These are the details for Capital Gold Payroll (4.14.00).

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Version

4.14.00

Released

Mar 24

Summary

 This release of Capital Gold Payroll provides the necessary legislative changes to process in the 2024/25 tax year. The release also includes new features and enhancements.

New NIC Letters for Investment Zones

From 6 April 2024, four new Investment Zone NIC category letters will come into effect for employers in Britain as part of the Investment Zone NI Relief (IZENR) programme which provides a package of tax reliefs to employers with employees working in geographic areas, as prescribed by law.

The new letters are:

  • N - (standard category letter).
  • E - (married women and widows entitled to pay reduced NICs).
  • K - (employees over the state pension age).
  • D - (employees who can defer paying 10% NICs and pay only 2% because they are already paying it in another job).

Pension file changes
  • Standard Life GTG Payments Pension file changes: The column header from Salary to Pay Period Pensionable Earnings.
  • Added a new Pensionable Pay Definition(s) column in the file between the Plan Number and Regular (employer) columns.
  • The LGPS Bands for England/Wales are now up to date for the 2024/2025 tax year.
  • Teachers’ Pension tiers are now up to date for the 2024/2025 tax year.

Statutory Maternity Pay

We have removed system validation which previously prevented male employees from claiming Statutory Maternity Pay (SMP). This update is effective from April 2024 onwards and follows HMRC’s decision to review the SMP eligibility criteria.

Statutory Paternity Leave

From April 2024 onwards, a new policy allowing an employed father to take Paternity Pay and Leave in two non-consecutive periods totalling 2 weeks within 52 weeks of the birth date or placement date of the child for adoption will come into effect.

Changes are effective from 7 April 2024 for births and 6 April 2024 for placements.

This legislation currently does not apply to Northern Ireland.

RTI Updates
  • Updated the FPS schema for the 2024/2025 tax year in line with government legislation.
  • Updated the EPS schema for submissions relating to the 2024/2025 tax year.
  • Amended the EYFPS schema for submissions relating to the 2023/2024 tax year.

PAYE Legislation
  • Updated the student and postgraduate loan thresholds for the 2024/2025 tax year.
  • Updated the system with the automatic enrolment and pensions figures for the 2024/2025 tax year.
  • Updated the system with the National Minimum Wage and National Living Wage rates for the 2024/2025 tax year.
  • Modified the system with the tax, NI, and statutory payment rates for the 2024/2025 tax year.
  • Updated the system with the thresholds for the Car and fuel benefit thresholds for the 2024/2025 tax year.
  • Updated the system with the Tax Codes for the Personal allowance tax code rates for the 2024/2025 tax year.

Other Improvements

A new P60 layout for year-end 2023/2024 is now available.

 

Capital Gold Payroll Guides

Capital Gold Payroll Product Details