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New software is tailored to local payroll tax structure

Software is now available to Island employers trying to stay on top of Bermuda's increasingly complex payroll tax structure.

Changes introduced by Government in the 2004 budget last month introduced a higher level of taxation for many employers, while certain sectors saw no change.

The product ? with a modular architecture allowing clients to have the product tailored to their particular business needs ? is being launched exclusively to Bermuda companies by developer Jim Goldring and sales agent Jack Durner.

Many local companies have, up to now, had to rely on software designed abroad for personnel reports and costs, meaning they had to modify the reports according to the reporting and taxation requirements for Bermuda.

Mr. Goldring, a Bermudian who spends his time between Bermuda and Australia, said the software ? called Bermuda Personnel Manager ? is ready to handle the latest changes to Government payroll tax.

In addition, the two businessmen said the software is designed to help employers comply with all Government reporting requirements, as well as other human resource records.

Mr. Durner, who runs his own consulting business Business Improvement Services Ltd., said it was actually a Government reporting requirement that prompted the development of Bermuda Personnel Manager.

"The genesis was the quarterly tax report.

"This is a cumbersome task for companies but this product will print the form at the touch of a button," he said.

Mr. Goldring said the software could be adapted to any size business: "Bermuda Personnel Manager can handle any type of business, and from two employees and up."

Several clients ? from a cross-section of sectors including a hotel, a law firm, an educational organisation and a document storage company ? tried out the software in its development stages, Mr. Goldring said.

Both described the software as now being in its second generation with several more "enhancements" due this summer.

In its first phase, the software is set up to track and record all requirements under the Employers and Payroll Tax acts including employee details, pay rates and reports, statement of employment, tracking deductions, insurance summary, pension contributions, leave due and direct deposit information.

Module two is a human resources component, again designed for Bermuda companies, and includes CURE reporting, manpower survey capabilities, hotel survey capabilities, work permits, discipline and termination, statistics reports and other HR tasks including tracking of job positions and interviews. Additional modules allow companies to generate time and expense reports.

Wanting to introduce clients to the software, the businessmen are offering the software to companies on a free, 30-day trial basis.