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info-simmonsbilt
August 3, 2024
Question

Transferring payroll to QB but need to know if when I enter NI if I select W1/M1 because they have opening balances which I will input from my existing payroll system

  • August 3, 2024
  • 1 reply
  • 0 views
all employees are existing who have been paid using my old payroll provider with RTI submissions being filed so when completing declaration should I select week 1/Month 1 or the cummulative

1 reply

K
KimberlyS
August 3, 2024

Identifying the tax code to use for employees depends on how your taxes are calculated, info. I'll add more details regarding this matter so you can set up your workers accordingly.

 

You can determine an employee's tax code on their P45 or tax code notice from HMRC. Select Week 1/Month 1 if your taxes are calculated on a pay-by-pay basis. However, choose the Cumulative if taxes are calculated on a year-to-date basis, taking the taxable earnings into account and the tax already paid in the year.

 

For employees that don't have a P45, please seek help from HMRC through this website: Work out your new employee's tax code. You can pick Cumulative if the result doesn't specify Week 1/Month 1.

 

Moreover, when you're ready to pay your team and submit payroll liabilities to your respective agencies, consider utilizing these resources as your guide:

 

 

Please drop a reply below if there's anything I can help you with when setting up employees and their tax information in QuickBooks Online. I'm always willing to help in all possible ways.

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