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UK Announcement: Patch for National Insurance Changes effective 06 November, 2022 has been released
Dear customers,
The following patch is now available to download and apply via My Oracle Support:
• R12.2: 34642969:R12.PAY.C- HRGlobal
• R12.1: 34642969:R12.PAY.B- HRGlobal*
This patch delivers changes to National insurance rates that are used in the calculation of National Insurance, effective from 06 November, 2022, for only part of the 2022/23 tax year.
The payroll application has been updated to take account of changes to the rates used in the calculation of NI, reversing the earlier increases which came into effect from 06-April 2022. This change includes a separate, blended rate to be used in the calculation of NI for company directors and in the calculation of Class 1A NI on benefits in kind. The new rates for employees and Real Time Class 1A have been implemented within Oracle UK payroll with effect from 06-Nov-2022; the new rates for directors and Class 1A on benefits in kind are effective from 06-Apr-2022 as they