Loading Profile...
PAYE rounding discrepancies
This is a relatively minor point but a bit annoying none-the-less.
I use the HMRC employer CD-ROM to do my P11 working sheet and my P14/P32 PAYE returns. The employer CD-ROM rightly rounds down the taxable income each month to the nearest pound resulting in £78.20 tax due on a monthly salary of £931.13.
FreeAgent however seems to be doing the same calculation as listentotaxman.com, not rounding down the taxable income and coming up with a figure of £78.24.
Now I know its only a few pence and I can go in and edit all of these amounts manually but it would be nice if FreeAgent could match up with the employer CD-ROM.
I use the HMRC employer CD-ROM to do my P11 working sheet and my P14/P32 PAYE returns. The employer CD-ROM rightly rounds down the taxable income each month to the nearest pound resulting in £78.20 tax due on a monthly salary of £931.13.
FreeAgent however seems to be doing the same calculation as listentotaxman.com, not rounding down the taxable income and coming up with a figure of £78.24.
Now I know its only a few pence and I can go in and edit all of these amounts manually but it would be nice if FreeAgent could match up with the employer CD-ROM.
2
people have this problem
I have this problem, too!
Tell me when someone solves it.
The more people who report this problem, the more it gets noticed.
The more people who report this problem, the more it gets noticed.
The company has acknowledged this problem.
-
Inappropriate?Hi Luke
Sorry for the delay in replying. We'll be having a chat about this and we'll get back to you soon. -
Inappropriate?This may be the same thing I noticed with my PAYE. Its not a huge problem but its little annoying that accounting software doesn't do figures right. See my post here -
Inappropriate?So, having done my PAYE for a few months longer now, I've noticed that what the employer CD-ROM does is rounds down the 4p each month as above, but then after 5 months, it added 20p to make up for it, so my tax for the first 4 months was £78.20 then £78.40 instead of 5 lots of £78.24. Net result is the same but I still edited my FreeAgent payslips to match HMRC for consistency.
EMPLOYEE
