Unlike self-employed professionals, salaried employees have a regular and reliable periodic income, known as PAYE (pay as you earn). This mandates deduction of income tax, national insurance, student loans and other similar statutory deductions; whenever they get paid.
As an employer, you are liable to make the correct deductions and pay them to HMRC, along with filing regular PAYE online to HMRC. This is also known as RTI (real time information).
HMRC offers you a free tool named HMRC Basic PAYE Tools, which can be used to run payroll and submit the RTI. However, it doesn’t have all the ancillary features, such as generating a payslip or managing auto enrolment pensions, etc.
This leaves you with no other option than to use a commercial payroll software, often at a substantial cost, in addition to the time you need to dedicate to it every Month/Week.
We can handle all statutory compliance relating to PAYE. This in turn enables you to focus on your core business, rather than having to worry about cumbersome payroll related compliance requirements set out by various authorities (such as HMRC, The Pension Regulators, etc).
Absolutely, we generate payslips for your employees as per HMRC’s requirements and you can even choose from 5 different template styles. We can also provide you with P45’s to be issued to leaving employees and P60’s to existing employees at each year’s end.
FPS (full payment submission) needs to be prepared and submitted to HMRC whenever you pay one or more employees. EPS (employment payment summary) on the other hand needs to be filed in order to claim back statutory allowances such as Statutory Maternity Pay, Statutory Sick Pay, CIS suffered, etc. It also allows you to claim Employment allowance, let HMRC know about periods of inactivity or no payments, etc. Both are included as a part of the Payroll services we provide.
Yes, you have access to the pool of payroll experts we have within our team. This allows you to save the most in terms of HMRC taxes as well as ensuring compliance with ever-changing rules and regulations.
We can help you with this too at no extra cost (for regular customers). We can also file the EYU (Earlier Year Update) in order to keep it updated.
You have access to our dedicated team of tax experts who would be happy to help with any query. These are professionals with years of experience and have dealt with thousands of taxation matters involving HMRC. We even offer 30 minutes of absolutely free initial advice (no hard sell, we promise, no one likes that). We would only progress to the next step once you are happy.
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