Whether you are running a business or a charity, if you employ people, you need to have a robust payroll system in your organisation.
Following are the benefits of outsourcing your payroll to an expert bureau.
PAYE rules are complex. Not only you need to calculate tax and NIC for your employees, you need to ensure that you are following HMRC’s guidance and instructions. You will need to take necessary actions on tax code notices. You will need to enrol your employees to the workplace pension scheme. You can rely on us to run your payroll, ensuring all the rules are followed.
Running a payroll requires a lot of effort from the employer and the payroll processor. You need to calculate overtime, bonus, leave entitlement, increments before you can calculate the relevant tax, NI and pension. And then, there are queries from employees & HMRC to be dealt with. This could result in delays. Outsourcing your payroll to an experienced payroll provider ensures that your complex payroll is dealt within timely manner.
Last thing you want to do is to either underpay or overpay your employees. Similary, your calculations of tax, NI and pensions should be accurate. You will need to ensure that your employees are getting all the allowances. You as an employer should be able to maximise your tax allowance. We ensure for our clients that they get the maximum value in tax savings without errors.
What are legal rules that will require me to apply as an employer?
Yes, you will have to register as an employer if your employee(s) meet the above requirements.
No. However, if you have a business as a company, you can register yourself as an employee as the employer (i.e. your company) and the employee (i.e. yourself) are two different persons.
Yes, if you are a business in construction industry and employ contractors, you will still need to apply for and have a PAYE scheme because of the way HMRC’s systems are designed.