Summary
| Feature 1 | Feature 2 |
|
Employee National Insurance Decrease From the 6th of January 2024, employee national insurance will decrease by 2%. |
New Mail Merge Field for Pension Letters A new mail merge option to bring through sent date for automatically processed and sent Pension Letters. |
Release date for all features: December 14th 2023
Employee National Insurance Decrease
- Enabled by default? - Yes
- Set up by customer admin? - No
- Enable via support ticket? - No
- Affects configuration or data? - No
What's Changing?
The rate (%) of employee National Insurance is decreasing by 2% for most, but not all, National Insurance categories. This is effective from the 6th of January 2024.
Reason for the Change
During the UK Chancellor's Autumn Statement on 22nd November 2023, it was announced that the rate of National Insurance that employees pay will be cut by 2% effective for pay dates on and after the 6th January 2024.
Customers Affected
All customers using the Payroll Module.
Release Notes
The Payroll Module has been updated with the National Insurance changes effective from the 6th January 2024 as shown in the table below. This table shows the confirmed National Insurance rates for each category in the 2023/2024 tax year, including the changes taking effect on 6th January 2024. Directors National Insurance will use an annualised rate made up of 9 months at the old rate and 3 months at the new rate for the given category.
Please note: No pro rata calculations exist on this National Insurance change. If a pay date falls on or after the 6th of January 2024 it will use the new rate regardless of the pay range. If the pay date falls before then it will use the old rate. If an employer's pay date is the 6th or 7th January 2024, which are Saturday and Sunday respectively, then the pay date may be brought forward to Friday 5th January 2024 in which case this would still use the new rate because the regular pay date is on or after the 6th January 2024 and is still considered tax month 10 of the tax year.
Table.1 - Confirmed National Insurance rates (effective 6th January 2024)
| Contribution Table Letter | Payment of earnings made on | Earnings below LEL | Earnings at or above LEL up to and including PT | Earnings above the PT up to and including UEL | Balance of earnings above the UEL |
| A (Standard) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 12% | 2% |
| A (Standard) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 10% | 2% |
| A (Standard) | Director* | NIL | 0% | 11.50% | 2% |
| B (MWRRE) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 5.85% | 2% |
| B (MWRRE) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 3.85% | 2% |
| B (MWRRE) | Director* | NIL | 0% | 5.35% | 2% |
| C (Over State Pension Age) | 6 Apr 2023 to 5 Jan 2024 | NIL | NIL | NIL | NIL |
| C (Over State Pension Age) | 6 Jan 2024 to 5 Apr 2024 | NIL | NIL | NIL | NIL |
| C (Over State Pension Age) | Director* | NIL | NIL | NIL | NIL |
| F (Freeports Standard) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 12% | 2% |
| F (Freeports Standard) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 10% | 2% |
| F (Freeports Standard) | Director* | NIL | 0% | 11.50% | 2% |
| H (Apprentice Under 25) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 12% | 2% |
| H (Apprentice Under 25) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 10% | 2% |
| H (Apprentice Under 25) | Director* | NIL | 0% | 11.50% | 2% |
| I (Freeports MWRRE) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 5.85% | 2% |
| I (Freeports MWRRE) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 3.85% | 2% |
| I (Freeports MWRRE) | Director* | NIL | 0% | 5.35% | 2% |
| J (Deferment) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 2% | 2% |
| J (Deferment) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 2% | 2% |
| J (Deferment) | Director* | NIL | 0% | 2% | 2% |
| L (Freeports Determent) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 2% | 2% |
| L (Freeports Determent) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 2% | 2% |
| L (Freeports Determent) | Director* | NIL | 0% | 2% | 2% |
| M (Under 21) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 12% | 2% |
| M (Under 21) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 10% | 2% |
| M (Under 21) | Director* | NIL | 0% | 11.50% | 2% |
| S (Freeports over State Pension Age) | 6 Apr 2023 to 5 Jan 2024 | NIL | NIL | NIL | NIL |
| S (Freeports over State Pension Age) | 6 Jan 2024 to 5 Apr 2024 | NIL | NIL | NIL | NIL |
| S (Freeports over State Pension Age) | Director* | NIL | NIL | NIL | NIL |
| V (Veterans Standard) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 12% | 2% |
| V (Veterans Standard) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 10% | 2% |
| V (Veterans Standard) | Director* | NIL | 0% | 11.50% | 2% |
| Z (Under 21 – Determent) | 6 Apr 2023 to 5 Jan 2024 | NIL | 0% | 2% | 2% |
| Z (Under 21 – Determent) | 6 Jan 2024 to 5 Apr 2024 | NIL | 0% | 2% | 2% |
| Z (Under 21 – Determent) | Director* | NIL | 0% | 2% | 2% |
New Mail Merge Field for Pension Letters
- Enabled by default? - Yes
- Set up by customer admin? - No
- Enable via support ticket? - No
- Affects configuration or data? - No
What's Changing?
A new mail merge field has been introduced which can be used to display the date a letter was automatically sent.
Reason for the Change
The new mail merge field to return the date a pension letter was automatically sent has been added to provide an alternative to using the Microsoft Word 'Insert Date & Time' macro field.
Customers Affected
All customers using the Pension Module.
Release Note Info
When creating a pension letter, or editing an existing pension letter template in Word a new mail merge field can be added by entering <?ProcessDate?>, which looks like this:
Fig.1 - Pension Letter Template Mail Merge field
Please note: If bold, italics or underlining is applied to the mail merge field then the returned date will show with those traits in the generated pension letter.
Once the pension letter is processed and automatically sent for an employee, the mail merge field will show the date the letter was processed and sent:
Fig.2 - Processed Pension Letter Date returned via Mail Merge Field
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