Pegasus has announced the release of its new P11D Organiser. This software includes HMRC-approved P11D/P11D(b) forms and filing submissions for the 2019-20 tax year as well as P46 (car) form and submission for the 2020-21 tax year.
Legislative Changes for the 2020-21 Tax Year
As part of this release, Pegasus has also introduced a number of legislative changes to come into effect for the 2020-21 tax year.
These changes include the following:
- Changes to accommodate the percentage lookup process based on whether the car registration is before or after 6th April 2020 when new Worldwide Harmonised Light Vehicles Test Procedure (WLTP) emission tests will be used to determine the CO2 rates will be used.
- The company car fuel multiplier has increased from £24,100 to £24,500.
- Diesel supplement remains at 4% for the 2020-21 tax year for all diesel cars not certified to the Real Driving Emissions 2 (RDE2) standard.
- Company car appropriate percentages changed to range from 2% to 14% for cars with CO2 emissions of 0-50g/km depending on Electric Range (miles). All other rates have changed reaching the maximum of 37% for emissions of 160g/km or more (excluding Diesels – not RDE2 – which is reached by 140g/km due to supplements).
- The van benefit charge has increased from £3,430 to £3,490 and the van fuel benefit charge has increased from £655 to £666.
- The Appropriate Percentages for vehicles with no approved CO2 value have been updated to 37% for over 2000cc, 34% to 37% for 1401cc to 2000cc (depending on whether the fuel type is petrol or diesel) and 23% to 27% for 1400cc and below (depending on whether the fuel type is petrol or diesel).
- The Van and van fuel benefit charges for zero emission vehicles has increased from 60% to 80% of the standard van benefit charge.
- The VAT Fuel Scales Charge rates have been updated. The new rates should be used from the start of the next accounting period on or after 1 May 2020.
- The interest rates for Loans in 2020-21 has reduced to the new rate of 2.25%. In 2019-20 the rate was 2.50%.
As well as these changes in legislation, Pegasus has also introduced several software improvements for its P11D Organiser product.
Among these improvements are:
- A new wizard has been included in this release for new customer installations of the P11D Organiser. Existing customers will continue to use Web Services to download the upgrade for this release.
- The Car record screen has been updated to allow the electric mileage range values for ULEV cars (1-50g/km CO2) to be entered.
- The HMRC filing routine no longer requires users to store their Gateway passwords within the P11D Organiser, therefore improving security protocols within the application.
- The security requirements around a user’s login and the visibility of the roles a user can access has been enhanced. This includes the introduction of a new role to allow software updates to be applied to the system.
- The file mapping screen along with the mapping database field names have been revised to improve the importing of data into the system. In addition, changes to accommodate American date format and other validation improvements around handling leading zeros against payroll numbers and employee records has been made.
- A new fuel type for Hybrid Diesel cars has been added. This allows the exact fuel types to be added and not just HMRC fuel types (A, D and F) for testing against Ap-proved Fuel Rates and Mileage Payments.
- The User Administration screen has been updated to cater for the new Software Update setting.
- The Import Error file function now has a “Save As” and “View” options.
- The Beneficial Loan report has been updated to highlight loans that are below the £10,000 threshold.
- All reports have been updated to reflect the legislative changes.
Pegasus and Synergy Technology work together to provide unrivalled accounting software with customised add-ons and setups. These improvements and changes mean Opera 3 and P11D Organiser remain at the forefront of the industry for the coming tax years.
Contact Synergy Technology Today
For more information on any of these topics, please contact our knowledgeable team today. Pegasus Opera users can call us on 0345 456 0050 at any time for technical assistance and advice.