At Xerocon London we announced UK Payroll in Xero. Today, we’re pleased to report that you can now set up your payroll ready for processing in the new financial year.
We’ve built beautiful online accounting and payroll software for small businesses. It’s easy to implement and use from anywhere. Payroll information flows seamlessly into your general ledger, with journals created automatically.
Powerful UK payroll software
Changing your payroll software isn’t a decision made lightly, but combining two primary business systems saves both time and money. Xero is the platform of choice for small business.
Starting today, you can get ready for 6 April by setting up payroll to suit the needs of your business, including adding employees. We’re enabling payroll processing from 6 April, in time for the 2015/2016 financial year.
UK Payroll in Xero includes support for the following:
- Claim £2,000 Employment Allowance
- Tracking by Employee Groups for cost analysis
- Standard Public Holidays provided, grouped by country
- Add custom business holidays and holiday groups as required
- Record Tax Office details for reporting to HMRC
- Record bank and pension fund details
- Personal details including employee photo
- Employment details including salary or hourly rate and hours per week
- Monthly, weekly, fortnightly, quarterly, annual & 4-weekly pay
- Leave balances for annual leave and custom time off types
- Notes to record comments against each employee
- P45 Leaver Forms
- New employee starter declaration
- Hourly and salaried pay rates
- Unlimited custom earning rate types, based on either: base pay rate, rate per unit, or fixed amount
- Unlimited custom leave types in addition to the statutory leave types
- Unlimited custom benefit, deduction, and reimbursement rate types
- Student Loan repayments
- Record attachments of earnings orders
Tax & NIC
- Built-in Tax and NIC rates
- Tax and NIC rate updates automatically each year
- Week 1 / Month 1 pay basis
- Directors special NIC calculations
- Electronic payment of employee wages via BACS file
- P32 Tax & NIC amounts to be paid to HMRC
- Automatic posting of payroll journals to general ledger
- Reconcile your net wages by allocating the spent transaction to your wages payable account
- ‘Wages Payable’ (Account number 814), ‘Pensions Payable’ (Account number 858), ‘Earnings Orders Payable’ (Account number 868), and ‘Student Loan Deductions’ (Account number 947) have been automatically created
- For existing customers we checked for the existence of the account number or name and if it already existed in the chart of accounts , we didn’t add the corresponding chart of account, if it does not exist we added to the chart of accounts.
- Access online and PDF payslips for any previous pay run
- Email payslips directly to employees
- Invite employees to self-service payslips from the employee app
- RTI submissions
- Submission log complete with HMRC information
- View confirmation of successful transmission
- Records Agent details
- Agent RTI Filing
- Auto enrolment features
- Calculation of Qualifying Earnings
- Stakeholder pensions
- Employee and employer contributions entered as an amount or percentage
- P32 employer deduction payment record
- P60 employee’s end-of-year summary
- P45 employee leaving form
- Available online and coming soon to mobiles (iOs and Android)
- View pay history and download payslips
- Request time off
- Manager role to allow for approval of time off requests
This is just the beginning. You’ll see constant enhancements, improvements and features being made available as we get your feedback and strive to make Payroll in Xero smarter and more powerful.
Learn more about getting ready for UK Payroll in the help centre.
Pricing, dates and more
We’re removing our existing Premium plan from 31 March and introducing new Premium plans based on the number of employees you pay each month. If you’re on the Standard plan you’ll get one employee included. The number of employees is the number of active employees you pay per month.
Each new plan’s price includes the Xero accounting features you love, and now payroll as well. It’s one price for accounting and payroll software together – just pick a plan to fit the size of your business.
If you’re on the Premium plan by 31 March, we’ll give you 10 payroll employees free and you’ll continue to pay £25 a month for two years.
Now’s the time to make the change to UK Payroll in Xero. Get ready to start the new financial year on the right foot.