Running payroll is business owners` bane. Employees come and go but your business stays with you, you do what you are best at, while we take care of your payroll before it jumps from the frying pan into the fire. With our experts' help, you will be able to fully enrolled with the most updated payroll system for the price as low as £15 per month. Don`t pay those hefty fees for your monthly payroll services online, the moment you decide to kick the ball rolling with us your assigned accountant will help you.
As per The Pension Regulator’s guidelines, the employer has to auto-enrol all its employees under a workplace pension scheme and also contribute a prescribed percentage of the salary as an employer’s contribution. Any employers in the UK fulfilling the below conditions are bound by this legislation;
- if they employ at least 1 person
- who earns more than £10,000 a year
- aged between 22 and govt pension age. (know your state pension age here)
With our dedicated team`s help, committed to providing you with a first-class payroll service online, you`ll be able to manage your frame dates and correspondence on time, prompt and with no problem. Our team of accountants help you in setting up the pension schemes and advise you on all compliance works immediately.
You can also download our Payroll Guide for small businesses here
Any business owner that has employees, needs to run a payroll and make RTI submission to HMRC. Otherwise, the penalties for not submitting your RTI on-time starts at £100, which is just another reason why you should work with a dedicated payroll accountant.
CIS deduction suffered sub-contractors often have issues with HMRC about running CIS payroll in accuracy and consistency to reclaim the deductions at the end of a tax year. As running PAYE regularly is the only way of claiming the deductions back, you need someone to manage your CIS payroll as accurate and effective as possible. Our team is dedicated to giving the best advice and help you with keeping your CIS payroll running consistently. Debitam offers the services as follows as part of CIS payroll services;
- Verification of each employee,
- Calculation of your CIS tax rate,
- Preparation of payment and an annual CIS deduction statement.
Payroll is something you shouldn`t worry about when running your dream business. Whether you are a sole trader, limited company, mid-sized or a large corporate, we have the most effective payroll solutions, specifically designed for you. With our team of expert accountants` flexibility at providing you online payroll service, you now can enjoy the most recent updates on running payroll while you are doing what you are best at.
Our service includes as follows;
- Running Payroll,
- Generating Payslips, either weekly, monthly or fortnightly, depending on your payment schedule.
- Preparing your employees' starter, leaver and year-end expense benefit reports
- Student loans deductions, holiday and sick payment report preparation
- Reporting statutory leave payments of employees such as maternity, paternity, adoption and shared parental pay
- Reporting your payslips on a regular basis
- RTI (FPS and EPS) submission to HMRC.
- Unlimited payroll advice.
There are several PAYE forms in use, each has its own purpose.
- Form P45: Given to employee by an employer when the former leaves the job. It shows the amount of tax that has been paid within the related tax year so far.
- Form P60: Given to employees by employers after the end of a tax year. The form contains details of the amount of salary and tax paid out of the employee’s salary for the relevant tax year. This form is often useful when the employee is required to prove the amount of tax paid to HMRC in case one needs to claim back overpaid tax, to apply for tax credits or in case they have applied for loan or mortgage then the document is being treated as a proof of income.
- Form P11D: If an employee receives any ‘benefit in kind’ from an employer, then the employer needs to submit this form to HMRC. This form records the monetary value of each benefit. An employer may provide an employee with a copy of P11D.
- Form P87: It is a form that can be used by employees to claim tax relief for allowable employment expenses. If the allowable expenses are less than £2,500, the employee can claim tax relief through the P87 form, but if the allowable expenses are more than £2,500 then these can be claimed only by filing a self-assessment return.
These forms needs to be filed for each director and employee and issued with HMRC on which their PAYE scheme is registered. This can be quite complicated to deal with especially if you are a one-man-band, with Debitam you can now make easy submissions to HMRC before due date. Our passionate experts go through every detail to prevent any potential penalty that might incur you.
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