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Payroll now or pay a fine later – expert’s alert to businesses over living wage

Businesses across the county have been warned to check and update their payroll systems or risk a severe penalty.

The alert has come from Worcestershire IT and payroll specialist Susan Marlow who says the vast majority of businesses have yet to revise their systems despite the new national living wage sweeping into effect from 1st April.

Mrs Marlow, finance director at Kidderminster-based IT and software provider Minster Micro Computers, says employers will have “nowhere to hide” when the changes come into effect due to stringent minimum wage checks by HM Revenue and Customs.

Under the new rules, every employee aged 25 and over will be entitled to at least £7.20 per hour, a 50p per hour rise on the current rate.

Businesses failing to pay the increased rate could face a fine of £20,000 per worker – a message Mrs Marlow is pushing following a Department for Business, Innovation and Skills study that found 55 per cent of employers had yet to update their payroll accordingly.

She said: “Since the introduction of RTI legislation, there really is nowhere to hide for firms here in Worcestershire and with the new pay rules only a matter of weeks away, it’s vital they take steps to update their systems.

“Some businesses have complained the national living wage will put an additional burden on them but the law is here to stay. All the information that HMRC needs, including wages, dates of birth and National Insurance numbers, it already has.

“Even employers who are fully aware of the change and have budgeted for it have to take extra care to ensure their payroll system is updated and ready to pay the new rate from 1st April.”

Ms Marlow said companies had to make sure their software was capable of adjusting to the change.

She added: “Businesses shouldn’t assume their software or payroll bureau will advise or alert them. It’s an employer’s responsibility to ensure systems are ready otherwise they will face HMRC’s strict crackdown and hard financial penalties.”

Minster Micro Computers has more than 35 years’ experience in ERP and payroll systems and have ran numerous payroll-related seminars, including a focus on auto-enrolment and RTI. These sessions are run prior to the legislations coming in as part of their commitment to outstanding customer service.

Supporting a range of business sectors, the company is an accredited SAP Business One Partner and is a provider of Pegasus business software.

The Worcestershire firm supplies payroll software, training and implementation as well as IT support services.

Businesses looking for advice on updating their payroll systems in preparation for the 1st April changes can email susan.marlow@minstermicro.co.uk or telephone 01562 68211.

Made In The Midlands 2015 Exhibition

As you may be aware, exhibition season is well underway and Minster have been taking the opportunity to attend and exhibit at as many as possible in order to meet local, well-established companies.Minster Team At Exhibition

In less than a week (Thursday 14th May 2015) we will be exhibiting at the Made in the Midlands exhibition where we are a Gold Partner. Whilst you have to be a member of Made in the Midlands to exhibit, other companies can register to attend the event.

The 2015 exhibition is set to be MIMs (Made In The Midlands) biggest and best yet with a brand new location hosting over 150 of our members exhibiting and an expected 1,000 visitors.

The Made in the Midlands Exhibition is a full day event which brings together the very best of Midlands manufacturing & engineering services from across a wide variety of sectors, including Aerospace, Automotive, Rail, Marine, Medical and Oil & Gas.

MIMs annual exhibition provides the ideal platform for networking with a view to doing more business and meeting like-minded companies from across the Midlands region.

The day will also include a series of seminars hosted by our partners on a host of topics which affect Midlands manufacturers.

Again, we are very excited to be exhibiting at this event and would love to see you there!

If you are interested in attending the Made in the Midlands exhibition in Wolverhampton next week (Thursday 14th May), then please register for your tickets at: http://www.madeinthemidlands.com/events/15690601010

*Tickets are available at no cost to Manufacturers and members of Made in the Midlands, please see the Made In The Midlands website for further details.

Pegasus Takes Centre Stage at FDs’ Excellence Awards

Minster are delighted to announce that Pegasus have won the Financial Software Vendor (SMEs) category in the 2014 FDs’ Excellence Awards in association with ICAEW.

AwardsBased on a nationwide survey of CEOs and finance leaders, the initiative was developed to recognise excellence among UK finance directors as well as the key service providers that support UK finance.  The awards are supported by the CBI, Real Business and the London Evening Standard.

Following feedback from CFOs, FDs and senior financial decision-makers from British businesses about their auditors, banks, financial software providers and recruitment agencies, Pegasus fended off competition from Access; IRIS; Microsoft Dynamics; Sage and SAP to win the Financial Software Vendor (SMEs).  Winners were announced on the 1st May at the London Marriott Hotel, Grosvenor Square.

“In a highly competitive marketplace such as ours it is a huge achievement to win such a prestigious award. We are extremely proud of our software which helps finance departments to achieve efficiencies and drive business growth. Winning the SME category in these awards is testament to the fact that our customers recognise the valuable role it plays within their organisations. We are committed to meeting our customers’ needs through continuous innovation in our software.”
Stuart Anderson (Director) Sales & Marketing at Pegasus Software

 

For more information on Pegasus achievements click here.

 

0% Finance Offer

This Spring, we are pleased to announce the launch of our 0% finance option for any business who would like to acquire Opera 3 or upgrade from Opera II to Opera 3.

0% FinanceIt’s cost-effective – upgrade to Opera 3 and pay over time without accruing any interest charges. Plus, protect your cash flow by eliminating large upfront costs.

You’ll see an immediate return on investment – Opera 3 is put to use immediately so you’ll start seeing the benefits from its unique features and applications straight away.

Alternative source of credit – should you choose to take advantage of 0% finance, your other borrowing options remain unaffected.

If you would like to take advantage of this offer, call Minster before the deadline on 23rd May.
(Terms and conditions apply. Finance cannot be used in conjunction with any other offer.)

Update: Due to popular demand, the 0% finance offer has been extended until 25th July 2014.
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UPDATE: New Data Exports Are Now Available

Data ExportsData Exports that are now available:

Standard Life, Scottish Life, Aegon

In Development: Aviva, Zurich, BlueSky

To see the original article, please click here

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Data Exports To Pension Providers

Update: New Data Exports to Pension Providers, please click here.

Data Exports To Pension ProvidersMinster is a Pegasus partner that has been working with various pension providers to make Auto-Enrolment as simple as possible for its Opera payroll users.

 

Pegasus Opera II and Opera 3 payroll systems have an option to provide NEST integration, but there are many other options available to companies that are not available from Pegasus as standard.Our Pegasus developer has devised a number of data exports from a single payroll utility solution.

We currently have data exports available for:
People’s Pension, NOW: Pensions, Scottish Widows, Legal & General

In development we have:
Aviva, Aegon, Scottish Life, BlueSky, Zurich

Subject to demand, there is also consideration in the development of data exports for a number of other pension providers.  Please contact us with any requests that you may have and we will investigate the requirements for you.

 

Save the Date

Auto-Enrolment Event – Wednesday 22nd January

Auto-Enrolment EventAfter a successful event…

We are holding another auto-enrolment event on Wednesday 22nd  January for those who are enrolling within the next 2 years.

Please contact us and confirm your place if you wish to attend.

For more information and what attendees thought of the last auto-enrolment event, please click here.

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Success At Auto-Enrolment Event!

Success @ AE Event

Auto-Enrolment Event Held At Minster Offices

Success: As Auto-Enrolment is fast approaching for many SMEs, the need for information and guidance has become more and more desired.

This is why we decided to join forces with experts in the finance and pensions field and hold an event to provide the knowledge and know-how to set our clients on the right path. After inviting customers to this free event, we had a fantastic turn out. EVERYONE left with a good sense of direction and the right information to get them started. Throughout the presentation, it became clear that Auto-Enrolment isn’t something that JUST happens. It won’t work with a click of a button. It is a process in which companies are advised to plan for well in advance- up to 12 months in advance! They realised that should be preparing for Auto-Enrolment as soon as possible.

It became apparent that a lot of the attendees were not at a stage that they should have been at and the presentation really gave them an understanding about what they needed to do. One of the important messages everyone took away was that companies cannot avoid Auto-Enrolment. No one is exempt from the penalties of up to £10,000 a day, but the good news is there are people who can aid them through the process.

For all of our Pegasus customers, we will have a role to play in assisting with this big change and that’s why we came together with Chris Poole and Joanna Toon. We will be holding future events to fit in with other staging dates so if you would like to attend or would like further information, please call us on

01562 68211 or email us marketing@minstermicro.co.uk.

What you said…

“Thank you for the Auto-Enrolment event.

The event was truly helpful and has guided me in the right direction for when and how to approach the Auto-Enrolment scheme, not only was it informative for the computer software aspect but also provided information about the background and workings of the scheme.”

Fiona Round
Harris Pipework Fabrications

 

“We found the Auto- Enrolment event very helpful and informative and a good insight into what is coming.

I think the pension company who attended gave a very good insight into it and it was not a real hard sales pitch.

Many thanks for this informative seminar.”

Jeanette Mills
Williams Ashton & Anderson Limited

 

“As my staging date isn’t until March 2015, I couldn’t initially see the benefit of attending the Auto-Enrolment event. However, after going along – I’m so glad I went! I now realise how important it is to prepare early. I found the whole morning to be really informative and it has encouraged me to be a lot more pro-active as it filled a lot of gaps for me.

I now feel ready to face Auto-Enrolment without worry!”

Tammy James
A J Lowther & Son Limited