Keytime Payroll Year End April 2020

 

Payroll Year End


Hello,


Please read these instructions before attempting year end.

Release Notes

Click here for the latest release notes

Software Update


Download Keytime Payroll 2019-20 Year End

Getting Help


You can get help with your year end in one of three ways:


Online at support.keytime.co.uk


Email us at support@keytime.co.uk
Call us on 0344 815 5560


Personal allowances


Personal allowances are unchanged this year, no amendments to tax


codes are required.


Changes for 2020-21


Employment Allowance


 


From 6th April 2020, only businesses with a class 1 NIC bill below £100,000 in the prior year will be allowed to claim. There are further restrictions on the type of employer:



The allowance itself increases to £4000 p/a, and when running year end on a payroll, where employment allowance is being claimed, an additional message screen will appear explaining the changes. You will then be prompted to confirm that the business is still eligible by way of enable / disable buttons.


Car Benefit Calculation


The car benefit calculation is changing from 6th April; therefore, the car benefit screen has been updated to take account of these changes.


From 6 April 2020, the graduated table of company car tax bands includes 11 new bands in respect of ultra-low emission vehicles (ULEVs) in the 0-75g CO2/km category. A second table of company car tax rates has been added, with a set of appropriate percentages in respect of vehicles registered on or after 6th April 2020 and tested under the Worldwide Light Testing Procedure (WLTP).


Statutory Parental Bereavement Leave


 A feature to support the payment of statutory parental bereavement leave has been added.


From April 2020, bereaved parents are entitled to at least two weeks’ leave following the death of a child under the age of 18 or if they suffer a stillbirth from 24 weeks of pregnancy. The leave must be taken within 56 weeks and whereas statutory sick pay has qualifying days, these do not apply to statutory parental bereavement leave.


Points



Changes to SSP and other recent initiatives in response to COVID-19 (Coronavirus)


 The Government has made a number of announcements recently in an attempt to support businesses with the retention of staff. These include paying 80% of staff salaries and the abolition of SSP waiting days, allowing SSP to be paid from day one.


For more information on recent initiatives click here


Further details on SSP changes including instructions on how to override the waiting days can be found here


Employer NIC on Termination Payments


A new ‘Termination’ pay element has been added to allow for the calculation of tax and class 1A NIC on payments over £30,000


Earlier Years Update


Earlier years update functionality was due to be phased out in 2019/2020 but is to continue as a means to correct payroll data in the 2019/2020 tax year.


Student Loan thresholds


If you have ticked the box for a Student Loan, the annual earnings above which collection will start are as follows:


Threshold for Plan 1 £19,390


Threshold for Plan 2 £26,575


Threshold for postgraduate loans £21,000


Install the update


The year-end update installs two versions of the software onto your PC.


Keytime Payroll 19 (for 2019-2020 and year-end processing)


Keytime Payroll (for processing 2020-2021 payrolls)


Step by step installation instructions:



  1. Ensure that no Keytime programs are running – if they are, close them

  2. Click here to download the update

  3. Follow the on-screen prompts and allow the update to install

  4. The system will tell you when it has finished


Finish processing


It is imperative that you take regular backups throughout the payroll year. As well, you must take a separate pre-year end backup and store it separately from your usual backups. It helps to label this as a year-end backup.


You should complete every period for 2019/2020 payroll before processing the year end. Payroll will not allow you to process year end whilst a pay period is open.


Week 53


A week 53 payment will only be required in 2019-2020 if the actual day on which you pay your staff is Saturday 4th or Sunday 5th April. 


If your payment date is correctly set in the system at Saturday or Sunday week 53 will run automatically.


In line with legislation, Keytime Payroll calculates the extra period on a week 1/month 1 basis. Please bear in mind that this could cause staff to be underpaid for the year ended 5th April 2020.


Filing a Final FPS or EPS


The final FPS must be filed on or before the date you pay employees.


If you have statutory payments to recover, or you need to tell HMRC that you haven’t paid anyone in the final tax month, you must file an EPS. Under these circumstances the EPS must be filed by 19th April 2020 to ensure HMRC allocate recovery amounts to the correct period and tax year.


Final FPS


Open your 2019-2020 payroll, to submit a final FPS click submit on the main toolbar in the employee library, then click Full Payment Submission.


Select the relevant FPS and click Submit. In the FPS wizard, tick (click) the box ‘final submission for the year’ and click next.


Once the pre-filing validations have been completed, click Submit to send the FPS; you can send the final FPSs as many times as necessary.


Final EPS


If you need to send an EPS, for example to recover statutory payments, you can send a final EPS instead of a final FPS (you must still send an FPS for the last period). Click submit on the main toolbar in the employee library, then click Employer Payment Submission.


Select the relevant EPS and click submit. In the EPS wizard, tick (click) the box ‘final submission for the year’. Continue with the EPS as normal. It is important to note that if you are recovering statutory payments you must submit the EPS by 19th April 2020 to avoid HMRC allocating the recovery amount to the incorrect tax period and year. 


Run the year end



You can now run the year end. This will create your data in the 2020/2021 version of the software.


In the 2019/2020 version of Payroll click Payroll > End of year > Process end of year



P60 print alignment


All the boxes on the P60 are in fixed positions which should be correct for all printers.


Please note that the system uses Portrait Laser P60 single sheet forms only. 


Occasionally, you may need to adjust the prints to fit the forms. You can manoeuvre the entire print horizontally and/or vertically to ensure that it prints within the boxes on the form.


From Setup > Configure system, click the settings tab. You can then adjust the margins to align the P60s.


If you do make a change, we recommend making a note of the original settings, in case your payslip alignment is affected. You only need to make this change in a single company - other companies will use the same settings.