Administering your payroll can be a time consuming and frustrating job distracting you from your core business activities. The task is made all the more difficult by the growing complexity of taxation and the burden of employment legislation. Penalties can be severe for noncompliance.
The introduction of PAYE RTI represents a fundamental reform of Pay As You Earn, requiring all UK employers to notify HMRC of their liability to PAYE at the time or before they make payment to their employees. It represents the largest change to PAYE since its introduction, where previously employers paid PAYE due to HMRC on account but only declared and reported their PAYE at the year end, with a P35 return.
From April 2013 all employers were mandated by law into PAYE RTI requiring them to submit their RTI return every time employees are paid as part of payroll arrangements. Pension providers are affected as well as employers.
There will be no parallel operation of old and new PAYE regimes – once in PAYE RTI an employer will continue in PAYE RTI.
The dates on which payment of tax and National Insurance deductions are made to HMRC remain the same, either the 19th or 22nd of the month or quarter following the reporting period. We have dedicated staff who can relieve you of this burden by providing a comprehensive and confidential payroll service, including:
To take advantage of our managed payroll package contact us today for a no obligation appraisal and quotation.
We suggest an initial no obligation, free of charge meeting, which allows us to understand your new business proposition and provides us with the relevant information to present some ideas and initial planning points.
From the initial meeting we would produce a full business support proposal which encompasses a summary of the main points along with a breakdown of our manageable “fixed monthly fee” for providing the service.
We provide our clients with a friendly, professional and cost effective service with the benefit of the close involvement of one of the firms’ partners.