Can I now process January 2024 Payroll safe in the knowledge that the new NIC rates are in the Quickbooks basic Payroll system?

Hello and welcome to the QuickBooks Community, 1433092075! I'm here to assist you with your inquiry about running payroll ahead of time with the new tax rates.

QuickBooks Payroll always makes sure to release updates to stay compliant with new tax regulations and upcoming changes.

However, the program is currently still using the existing National Insurance Contribution rates provided by HMRC. You can be assured that once the 2024 rates are released by HMRC and uploaded into QuickBooks Online, the system will then accurately calculate NIC amounts based on the new 2024 rates taking effect.

It's important to wait for confirmation that the rates have been updated before running January's payroll.

Let me share these articles for additional guidance and references when running payroll in QBO:

• Standard Payroll Hub | QuickBooks Online
• How to Generate a P60 Form in QuickBooks Online
• New Tax Year (2023/24) Guide

Please know that you can come back to the Community forum any time you have additional questions related to using QuickBooks for payroll, bookkeeping, or other accounting needs,1433092075. Our team is here and ready to provide answers and recommendations to help you get the most out of QuickBooks.