PAYE and NI are the bread and butter for payroll; the vast majority of employees pay these taxes, but there are exemptions and rebates that can be claimed! We’ll provide you with a total payment required to HMRC with a form called a P32, which breaks down the contributions, from Student Loan to Employers NI. You can then make payment from your account before the deadline to remain compliant.
Payslips summarise the total payments to employees, as well as tax deductions and often expenses. Employers are legally required to provide payslips on or before the date of payment, yet many companies find themselves running behind! We’ll prepare payslips for every member of staff and send them to you via secure document transfer, ready for you to print or email in time.
HMRC requires an FPS (Full Payment Submission) every month from employers, under their RTI rules. An FPS breaks down the tax owed for each of your employees, as well as providing information on New Starters and Leavers. We’ll prepare and submit the FPS on your behalf every month. And when Tax Year End comes along, we’ll get the final FPS submitted to close the year!
Many benefits you provide staff, such as company cars, gift vouchers or loans, are taxable, and require forms completing at Tax Year End to report this. These computations are pretty complicated, and can often leave employers stumped; we’ll work out the taxable value of the benefit, before calculating the tax due and submitting to HMRC on your behalf.
When providing a company car for employees or directors, you have certain obligations to ensure that their tax codes are adjusted by HMRC. To do this, several forms must be completed; we’ll take this stress off your hands and register these taxable benefits on your behalf, meaning that you can focus on driving your business forwards.
HMRC require that payroll is completed on compliant software, so that accurate reports are submitted directly. We’ll complete your payroll on a professional piece of software that we’ve selected due to its advanced features. If you’d like to keep your hand in, we can provide user accounts, or alternatively we can handle everything on your behalf!
Already run your accountancy with software such as Sage or Quickbooks? We can provide data on a CSV or PDF which’ll allow you to import payroll and tax information, such as PAYE/NI liability and Salary, so that you can easily input your payroll figures into your nominal ledger.
If you’ve not already, we’ll register your business with a HMRC PAYE scheme on your behalf so that we can begin making submissions to HMRC. As soon as this is setup we’ll provide you with details for their portal, and bank details required to make payments for your tax.
If your employees are off sick for a number of days, they’re entitled to Statutory Sick Pay. Staff are also entitled to other payments such as maternity paternity and adoption leave, and penalties can be harsh for underpayments. We’ll make calculations for what your staff are due if these payments are required, and incorporate this as part of your payroll.
We’ll calculate the holiday allowance your employees are entitled to yearly, whether pro-forma (for new joiners) to yearly entitlement with statutory bank holidays. These holiday calculations will be integrated with your payroll software, and displayed on your staff’s payslips.
Have a couple of questions about payroll? Not sure about how the latest legislation impacts your business? We’re available by email and phone for our clients, and will answer any questions you have. We’ll also provide monthly updates on any relevant changes with payroll law.
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