For most of us, hiring and paying staff is an essential part of our business. We will assist you not only with payroll and tax but can also advise on employment matters, the ways you should be paying your team and statutory payments.
Payroll is a time consuming but necessary task. Since HM Revenue & Customs (HMRC) increased the administrative burden for employers with Real Time Information (RTI) and a compulsory pension scheme, the task has become even more complex.
As an employer you need to be up to date with the current rate of all statutory payments, such as Statutory Sick Pay, Statutory Maternity Pay and many others. You also need to be aware of the current thresholds of tax, National Insurance and student loans as well as be able to deal with third party deductions such as pension contributions and attachment of earnings orders.
In addition to payroll, keeping up-to-date with ever changing employment law that affects your employees is also time consuming but necessary – and if you don’t, your employees will!
Holiday entitlements and national minimum or living wage rates are areas of compliance that can be overlooked and this oversight may result in hefty fines for you, the employer.
Many employers still don’t appreciate the importance of RTI and filing full payment submission to HMRC ‘on or before payday’. Late submission can result in penalties which can be easily avoided.
Let our dedicated team take away the headache of changing PAYE legislation. We will work with you to ensure your individual needs are met, no matter what size of payroll you have or what sector your business is in.
As a BACS bureau, our team can transfer your employees’ wages direct to their individual bank accounts and pay third parties on your behalf, saving you another task.
For peace of mind for all your payroll and employment law requirements contact a member of our team.