Payroll can be one of the major costs to your business, so it is important that it is done correctly to maintain the running of the business and the happiness of your staff.
Employment legislation is ever more complicated and complying with the legislative requirements is a significant burden for the typical SME business. Most recently, HM Revenue and Customs (HMRC) introduced Real Time Information (RTI) in April 2013.
RTI is a new way of reporting PAYE and changed the way in which employers must submit PAYE details to HMRC. Full details of employees, their individual National Insurance (NI) numbers, PAYE/NI deduction by employee and dates of starters and leavers now has to be submitted electronically each time a payment is made via the payroll process, as compared to the previous year end system. Failure to do so will lead to fines/penalties. All employers were required to report using RTI by October 2014.
We can act as your payroll department taking away the stresses of ensuring that your employees are paid correctly and on time, using up to date and fully compliant software. Our proactive approach ensures we deliver a consistent and timely service. We offer a full range of payroll services, as follows:
Registration of new employers for PAYE, Payroll set up for new employers and their employees. And the processing of all new starters, leavers and students.
Calculation and processing of amendments and statutory payments including sickness, maternity and paternity on a weekly, 2-weekly, 4-weekly or monthly basis. Also calculation and processing of overtime, commissions, bonuses and other payments and deductions including pension contributions, student loans and all attachment orders.
Produce payslips and timely payroll reports using HMRC approved payroll software that is also RTI ready.
Full tax year end service including completion and submission of P35 and P60s and completion and submission of RTI data.
Provide tax investigation cover to protect you against the cost of the professional fees dealing with the investigations outlined in our overview above.
Undertaking health checks to ensure compliance with the law and regulations appertaining to PAYE and NI.
Complying with the laws and regulations regarding payroll and PAYE/NIC.
Filing of returns and forms such as P32s and RTI data on time within the deadlines.
Minimising your costs, as no payroll staff/training/software required.
Minimising the likelihood of a costly PAYE investigation.
Notification of your PAYE/NIC liabilities in good time for you to be able to budget for the cash flow expense.