In some ways a pensioner payroll is simpler to run, as National Insurance and Statutory payments do not apply.
However, processing a pensioner payroll has other complexities. The implementation of Real Time Information (RTI) and the resulting changes to new starter processes has had a huge impact on pensioner payrolls.
HMRC provides guidance for pensioner payrolls to help providers get it right. In this course we look at this guidance as well as many other issues that are vital to this process.
If you are embarking upon running a pensioner payroll for the first time or require additional practical guidance to help and assist you in correctly processing your current pensioners’ pay this course is ideal.
Course Fees - Members/Non Members
• Payment of Uncrystallised Flexible Lump sum (UFPLS benefits)
• Continuing to provide employer benefits after retirement
• Setting up a new pensioner payroll
• P45s and options for starter declarations
• Taxation and allowances including K tax codes and the Scottish Rate of Income Tax (SRIT)
• Calculating a pensioner’s tax deduction
• Transferring details from an employer payroll
• Dealing with AEOs and DEOs
• Implications upon the death of the pensioner
- Reporting the information to HMRC
- Making the final calculations
• De minimis pensions
• Giving of gifts and benefits and the tax implications
• Recovering overpayments from pensioners
• Starting and stopping pension payments
• Impact of local agreements
• Working and receiving a pension from the same employer
• Real time Information (RTI)
- Pay periods and RTI
- Impact of RTI on new pensions
- Deadlines for submission
- Full Payment Submission
- Employer Payment Summary
• Finalising the tax year and issuing the P60