PAYROLL

As an employer you have a legal obligation to operate PAYE on the payments you make to your employees, even if you’re the only person working in the business.

You are both an employer and an employee if you run a one-person limited company. You’ll need to calculate both your income tax and national insurance contributions that are due to the tax man.

Most employers now have to report PAYE information to HM Revenue & Customs (HMRC) in real time. This means that employers (or their accountant, bookkeeper or payroll bureau) must:

• Send details to HMRC every time they pay an employee, at the time they pay them
• Use payroll software to send this information electronically as part of their routine payroll process

Our payroll team takes the worry out of needing to employ staff with specialist knowledge. This is part of our company accountancy service. We provide a timely, accurate and flexible company accountancy service designed to meet your needs. This covers:

• Providing security payslips and BACS processing if required
• Providing leavers with their P45
• Inputting of all data
• Generating year-end reconciliations and printing of P60/P35/P14 forms for submission via the Internet
• Reporting PAYE information in real time