Introduction to Isle of Man Payroll
One day workshop (Ref: PMI08w) :: Price - £397 + VATBook & pay for any 2009 one-day course before 12th Dec 2008
and receive a £30 discount per delegate.
Workshop Objectives
Taxation
- Understanding the Income Tax Instalment Payments (ITIP) scheme
- What income is taxable and what is exempt
- Calculating the tax liability of standard payments and abnormal payments
- Processing the tax deducted and making the payments
- Basic and Higher tax rates, when to use what rates
- Tax allowances & Tax codes, Tax Thresholds, tables & forms
- Different Emergency processes for residence and non-residence
- Processing leavers and payments after leaving
- Year end and In-year reporting requirements
- Rectifying overpayments and under deduction of tax
- Penalties and fines for late payments
National Insurance Contributions
- Highlighting the differences between the UK and the Island
- Reporting processes, liabilities and payments
- Penalties and fines for late payments
National Minimum Wage
Lump Sum Payments on Termination
Different rates of Sickness & Maternity Benefit
Statutory Maternity Leave & Retained Rights
Benefits in Kind
- Benefits Exempt and Taxable
- Calculating the taxable value of Benefits
- Assets transferred
- Assets available to employees
- Accommodation and food
- Relocation
- Company cars and fuel
- Company Vans
- Approved mileage rate
- Fines & Penalties
