Services & Fees

Payroll

In a company, payroll means all financial records relating to salaries for an employee, wages, bonuses and deductions.

What can we do?

We offer a completely comprehensive Payroll service through our own sophisticated cloud-based software. Using this system you can easily handle all your payroll requirements, as well as maintain a full HR database. Its functions include:

PAYE calculations
Automatic Payslip Generation
P11D/P9D submission
Automatic Completion of P11D(b)
Full CIS functionality
Fully functional RTI link with HMRC for PAYE Tax and NI information
HR database including name and address details, medical and next of kin information etc.
Set up BACS transactions for paying employees
Inbuilt reporting and analysis tool

Using this software you’ll have access to all your payroll information and be able to make changes 24 hours a day from anywhere in the world that you can connect to the internet, all for as little as £1 per employee per month.

If you prefer, of course, we can handle your payroll for you in the same way you’d employ a third party organisation. We can even supply an in-house individual if that would suit you better. Your initial consultation with us is free so you’ll have the opportunity to discuss some of the benefits and risks of each option with one of our partners, without any obligation.

 

  • Comprehensive payroll system
  • MHRC Real-Time Information filing
  • 24-hour world wide access
  • Full HR database

Further Reading

In accounting, it usually refers to the amount paid to employees, their salaries, hourly rates and totals, and their tax, often deducted at source by PAYE. Many medium and large companies have a payroll department to handle this work directly, others outsource the work to an external company. Either option can result in a reduced cost of administration depending on the structure of your current payroll arrangements, but using the wrong solution can be extremely costly and inefficient. In the final analysis, payroll is most important because it is the biggest determinant of workforce morale.

Beyond their main function of ensuring that employees are paid correctly, on time and with the appropriate tax, deductions and benefits, payroll departments often have responsibility for filing of the correct paperwork for regulatory agencies like HMRC. Depending on the type of work your company does, these obligations might include:

  • PAYE documentation – records of tax and NI deducted ‘at source’ provided to HMRC
  • P11D/P11D(b)/P9D – Documentation relating to benefits and expenses liable for class 1A National Insurance contributions
  • CIS documentation – Filing of returns to HMRC for the construction industry scheme
  • Communication with accountancy dept. regarding wage bills and taxation for the purposes of annual accounts.
  • Pensions
  • Student Loan Contributions
  • Issuing of Payslips
  • Calculation of Sick Pay
  • Issuance of P60/P45 for end of year and/or employees who are leaving

Many of these functions are legal requirements and so it’s important to allocate them to individuals and organisations that you trust.

Payroll departments need to hold accurate information about each person’s role in the company and be regularly updated to ensure that wages are paid correctly, on time and in a manner compliant with employment legislation, and that tax, witholdings and deductions are remitted appropriately. HMRC now encourages Real Time Information (RTI) filing via computer software that automatically updates them about the amount of tax and NI employees have paid.

Traditional Accounting

Dedicated Contact

Communications with HMRC & Companies House

Company Secretarial

Self Assessment Tax Return

Annual Accounts

Annual Returns

CT600 (Company Tax Return)

P11D

VAT

Payroll

CIS

Bookkeeping

Monthly Management Accounts

Accounting Systems Set-up

Business Startup – Company Formation

Tax Planning

Smart Accounting

Bespoke Reporting

Cloud Accounting

Financial Forecasting

Financial Goalsetting

Benchmarking and KPI’s

Dashboard Monitoring

Alert Monitoring

Virtual / Part-Time Financial Director / CFO

Non-Executive Director (NXD/ NED)

Cost Analysis

IT Services

Disaster Recovery Systems

Business Strategy

Workflow Management

Competitor Analysis

Monthly / Quarterly / Annual Performance Meetings

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