Archive for the ‘Sage’ Category

Which Training/Education course to improve workplace skills?

Wednesday, July 7th, 2010

In the current economic climate, with job opportunities at a premium, up-to-date workplace skills are essential to gaining employment. From a CV perspective, CV’s with recent training experiences show potential employers that you are motivated to maximise your skills even if you unfortunate enough to be currently unemployed.

 

The vast majority of jobs nowadays require some level of computer skills so it is important that you are computer literate.  This includes keyboard skills as very often people get hung up about   become ‘expert’ in some computer package but forget about the fact that their typing skills will slow down their ability to use the computer package effectively.  

 

From our perspective whilst there has been a massive slowdown in new employment offers, some skills are still more valuable than others. Computer literacy skills are a must as a foundation level skill. We have found that demand for Accounting skills be in the form of computerised accounts skills such as Sage Accounts or the Accounting Technician (IATI) or the ACCA CAT or Certified Public Accountants (CPA) qualifications has not been affected as much. Why is this? Simply companies out there need to keep a much closer eye on their internal counts and cash flow. Gone are the days when many small businesses relied on the bank statements to tell them how well they are doing. The need to have up-to-date key management information including key performance indicatiors from an accounting perspective has never been more important as companies need to know quickly how well or badly they are doing and react accordingly. Companies that don’t do this may simply not survive.

 

Another area which is somewhat protected is the role of Medical Secretary.  Again, you may well ask why that is. We still get sick and need the services of Medical Professionals. Whilst we might be cutting back on going out and not spending as much, medical expense fall into the essential spend category. Whilst the HSE has a recruitment ban in some areas, the need for professional Medical Secretaries is still there on a contract or part-time basis. This explains the continuing high demand for graduates of the Pitman Training Medical Secretarial Diploma course.

 

Hopefully, the thoughts above may be of interest to you. Feel free to give any feedback..

Posted in Accounting, CPA, IATI, Medical Secretary Training, Pitman Training, Sage, retraining | No Comments »

Income Levy Payroll Calculations

Friday, March 5th, 2010

As part of the payroll training courses that we offer, I am often asked for a quick summary  of what the income levy is all about so here goes!!. The information below refers to the 2010 payroll calculations. The training courses we offer in this area cover both manual and computerised (Sage Quickpay) skills.    

Income Levy Calculation

The levy is calculated based on the following bands of gross pay.

· Income up to €75,036 per annum - 2% levy

· Income between €75,037 and €174,980 per annum – 4% levy

· Income in excess of €174,980 per annum – 6% levy

 

Full medical card holders are exempt from the Income Levy as well as individuals aged 65 or over whose annual income does not exceed €20,000 per annum(p.a.).

 

Where the income exceeds the weekly minimum threshold of €289 the full income is subject to the income levy. Where the income levy has been applied for particular pay period(s) throughout the year but the minimum threshold of €15,028 p.a. has not been exceeded at week 52 then no liability to the income levy arises. In this situation and provided you were in continuous employment with an employer throughout the year in question (for the full 52 weeks) your employer should make an adjustment at week 52 and refund all income levy deducted. Where you have not been in continuous employment with an employer throughout the year in question Revenue, rather than the employer, will deal with any refund of income levy due.

 

The Income Levy is always calculated on a Week 1 / Month 1 Basis.

The income Levy is always calculated on Gross Pay. If you are paying pensions or A.V.C’s  which are tax allowable for the purposes of calculating income tax, the income levy is still calculated on the gross pay before any pension or A.V.C. deductions.    

Income Levy and Tax Return Forms

·         The income levy amount is included with the PAYE figure on the P30 return.

·         The income levy is also included with the PAYE figure on the P35 form.

·         At the end of the year, every employee still on the payroll requires both a P60 as well as end of year Income Levy Certificate. Employees who have left do NOT get either a P60 or an end of year Income Levy Certificate.

·         As employees leave, an Income levy cessation form as well as a P45 form is required to be completed by the employer. 

The breakdown of the income levy threshold figures are as follows:

 

Annual Threshold

Weekly

Fortnightly

Monthly

4-Weekly

Bi-monthly

Quarterly

15,028

289

578

1,253

1,156

627

3,757

75,036

1,443

2,886

6,253

5,772

3,127

18,759

174,980

3,365

6,730

14,582

13,460

7,291

43,745

Over 65’s

20,000

385

770

1,667

1,539

834

5,000

 

 

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HR, Employment Law, Business Studies, Marketing, Corporate Governance Courses now available in Kilkenny

Tuesday, June 23rd, 2009

From September of 2009, an expanded range of courses including Business Studies, Marketing, HR & Employment Law, Corporate Governance will be available from our centre in Kilkenny. Enrolments have already started.

These courses will be in addition to our popular range of Pitman Training Diplomas courses which enrol all year-round.

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Posted in Business Training, Employment Law Training, HR Training, Marketing Training, Pitman Training, Sage | No Comments »

April 2009 Budget Changes - Impact for Payroll Calculations - Sage Payroll

Friday, April 10th, 2009

Details of Income Levy, Health Levy & PRSI Changes in Supplementary Budget 2009

Tax Rate Changes
In the short term the income tax rates remain unchanged, the standard rate being 20% and the higher rate is 41%.

Income Levy Doubled
In the Budget last December the Minister announced a new income levy which has applied since 1 January. However, the rates at which the income levy will apply going forward have been doubled and the relevant thresholds have been reduced. The exemption threshold for the income levy has also been reduced from €18,304 to €15,028. The revised rates and associated thresholds are shown below and the new rates will apply from 1 May 2009. If you exceed the income levy entry threshold of €289 weekly, the levy is applied to all of your earnings not just the amount in excess of the entry threshold.

• Income up to €75,036 (previously €100,100) the levy applies at 2%, previously at 1%.
• Income over €75,036 and up to €174,980 the levy applies at 4%, previously at 2%.
• Income over €174,980 (previously €250,120) the levy applies at a rate of 6%, previously 3%.

Health Contribution Levy Doubled
The Health Contribution Levy has also been doubled and the new 4% rate will apply on income up to €75,036. The higher rate levy of 5% (previously 2.5%) will apply to income over €75,036. These changes also take effect from 1 May 2009.The health Levy is calculated as part of the PRSI deduction. The health levy entry threshold remains unchanged at €500 weekly and €26,000 annually. If you earn under theses amounts, you are not liable to pay this levy and unlike the income levy, the levy is only applied to amounts in excess of the entry threshold.

Pay Related Social Insurance (PRSI)
There had been speculation for some time that the employee ceiling for full rate PRSI payers would be abolished. However, the last Budget introduced an increase in the annual ceiling from €50,700 to €52,000, with the contribution rate unchanged at 4% for employees (excluding the levies) and 10.75% for employers. However, the
Minister now raises the employee PRSI ceiling up to €75,036. This increased PRSI cost for employees will take effect from 1 May 2009.

Implications for Sage Payoll Customers
Relax!. The required changes will be available as a download in plenty of time for the May payroll processing for both Sage Quickpay and Sage Micropay solutions. In the meantime, keep an eye on the www.genesisbusinesscollege.net/blog site for further updates. For details of how Sage Payroll solutions can help eliminate your payroll headaches, checkout www.genesisbusinesscollege.net. There is no time like the present!  

 

 

 

 DETAILS OF MAIN CHANGES

 

 

(Including Income Levy, Health levy & PRSI changes)

 

Existing (Yearly)

Proposed

(Yearly)

Existing Weekly

Proposed (Weekly)

Income Levy

€

€

 

€

Exemption Threshold (under 65)

€18,304

€15,028

€352

€289

Middle Rate Threshold

€100,100

€75,036

€1,925

€1,443

Higher Rate Threshold

€250,120

€174,980

€4,810

€3,365

Lower Rate

1%

2%

 

 

Middle Rate

2%

4%

 

 

Higher Rate

3%

6%

 

 

 

Existing

Proposed

 

 

Health levy

%

%

 

 

Lower Rate 

2.0%

4.0%

 

 

Higher Rate

2.5%

5.0%

 

 

Lower Rate Entry Threshold

€26,000

€26,000

€500

€500

Higher Rate Threshold

€100,100

€75,036

 

 

 

Existing

Proposed

 

 

PRSI

€

€

 

 

PRSI Ceiling

€52,000

€75,036

 

 

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Sage Payroll Software - Budget 2009 Income Levy

Wednesday, February 4th, 2009

What is the Income Levy?

The Income Levy introduced in Budget 2009 applies a supplementary tax amount to your gross income. The Levy amount is calculated BEFORE any relief amounts for capital allowances, losses or pension contributions.

Below, some basic questions about the Income Levy are answered.

For comprehensive information, refer to this official Revenue Commissioners document:

Income Levy: Notes for Guidance and Implementation Arrangements for Employers

 

When does the Levy apply?

The Levy applies from January 1, 2009.

 

Who must pay the Levy?

If you are under 65, and your gross income exceeds €18,304 per annum, you must pay the Levy on the full amount of your gross income.

If you are over 65, and your gross income exceeds €20,000, you must pay the levy on the full amount of your gross income. Alternatively, if you are assessed as a married couple over 65, and your combined gross income exceeds €40,000, you must pay the Levy on the full amount of your gross income.

If your gross income is less than the above amounts, you are exempt from the Levy.

You are also exempt from the Levy if you hold a medical card.

 

Is any income exempt from the Levy?

Important examples of the types of income exempt from the Levy include the following:

·         If your annual gross income is less than €18,304, you don’t have to pay the Levy.

·         Social Welfare payments, including those received from abroad, are exempt.

·         Income in lieu of Social Welfare payments, such as Community Employment Scheme payments or the Back to Education Allowance, are exempt.

·         Income subject to Deposit Interest Retention Tax (DIRT) is exempt.

 

What are the Levy rates?

Income Thresholds

Income Levy Rate

Income up to, but not exceeding, €18,304 per annum

Exempt from the Income Levy.

Gross Income between €18,304 and €100,100 per annum

If your annual gross income exceeds €18,304, a rate of 1% is applied to the portion of your annual gross income up to €100,100, INCLUDING the first €18,304.

Gross Income between €100,101 and €250,120 per annum

If your annual gross income exceeds €100,000, a rate of 2% is applied to the portion between €100,101 and €250,120.

Gross Income exceeding €250,120

If your annual gross income exceeds €250,120, a rate of 3% is applied to the portion greater than €250,120.

 

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