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PAYROLL
INTRODUCTION:
All companies and individuals who employ staff (which includes
directors), are required to set up a payroll scheme with Inland
Revenue once they begin paying them. Individuals who employ the use of domestic services,
such as nannies, chaffeurs, butlers, cleaners etc, are required
to set up and run PAYE schemes for their employees. Inland
Revenue is also offering significant refunds for online submission
- (currently £150 - £100 per year). We will do this for you at no extra charge.
Frequently asked Questions
What is involved in running a payroll scheme?
- You will be required to calculate and deduct the correct
amount of tax (PAYE) and National Insurance (NI) from your
employees each month, as well as your employer NI deductions.
- You will be required to pay over these deducted amounts
on a regular basis to Inland Revenue.
- You will be required to calculate statutory sick, maternity,
paternity and adoption pay.
- You will be required to provide employees with P11d's
where required. These are for summarising benefits, and
relate mainly to company directors.
- You will be required to present your employees with P45's
on leaving, or P60's at year end.
- You will be required to submit your Annual Employer Summary
P35 and P14 to Inland Revenue each year.
What are your costs?
Our basic payroll cost are £22.00 per month for up
to 4 employees, and £5.50 per month per employee thereafter.
Where payrolls are run on a quarterly basis - fees are £55
per quarter. This includes payslips, all PAYE and NI calculations,
P35 and P14 returns, P45's and P60's.
P11(d)'s (if required) will be charged
additionally at a cost of £75.00 each
How will it work?
Once your PAYE scheme has been set up (we can assist with
this process), you will be sent the relevant paying in books.
Each month you will need to email us details of all gross
payments to be paid to staff. We will then email you back,
detailing the net pay and all deductions iro your staff. We
will also advise you of the timing and amounts due to be paid
over to Inland Revenue. We will also complete and submit the
end of year P35 and P14 annual returns.
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