Payroll and PAYE Returns
In a company, payroll is the sum of all financial records of salaries for an employee,wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting perspective, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations.
Before you pay your first employee for the first time, you must check whether you need to operate PAYE. Following conditions need to be fulfill if you wants to register for PAYE scheme
- you're paying them at or above the PAYE threshold
- you're paying them at or above the National Insurance Lower Earnings Limit
- the employee already has another job
- they are receiving a state, company or occupational pension
- you're providing them with employee benefits
Monthly Payroll Processing and RTI Submission
Let us take the strain away from you and let you get on with running and growing the business. Payroll is complicated and has to be done on time and you as the employer are responsible for the mistakes.
We provide flexible and efficient Payroll services to clients who wish to out source their Payroll.
We provide following services to our clients
- Monthly/weekly payslips
- Payroll summary report.
- P32 PAYE Liability report
- Net wages Report
- Dealing with starters and leavers
- Monthly/quarterly emails with PAYE calculation
- Help and advice one Statutory maternity pay, statutory paternity pay, statutory sick pay and occupational pension scheme
- P60s (person’s end of year earnings and tax summary)
- P45 ( new legislation require all P45s to be submitted online
- P35 (employer annual return)
- Filing of monthly Construction Industry Scheme returns (CIS)
- Filing of RTI (Real Time Information) PAYE returns to HM Revenue & Customs.
At the end of business life, it is necessary to de-register PAYE scheme. HMRC is now being very strict regarding PAYE submission. We help you to successfully de-register you from scheme so you won't receive any penalty from HMRC for not submitting RTI reports after company struck off.