Payroll can be genuine task for businesses, from independent business owner to small and large businesses. With constant new changes in legislation payroll is no more a simple job. Consider, outsourcing your payroll.
If you are a sole trader or a Limited company who employee and pays more than £116* / week in salary then you must register for PAYE and deduct tax and national insurance at source for your staff.
All such employers have to register for a PAYE Scheme – PAYE i.e Pay As You Earn. This scheme aims at deducting the income tax (PAYE) and National Insurance (NI) from your employee’s salary and pay it to HMRC. The employer is required to contribute into NI (13.8% Class 1) as well. Payroll Tax liabilities need to be paid by the 22nd of the following month.
If you’re looking to find the right payroll service provider in High Wycombe then you need to ensure that you choose a company that is reputable, reliable. Finding payroll services can be an incredibly difficult task, not only because you will have to take care of many financial matters but also because it is very difficult to find a good company that can actually deliver on what they promise. If you have any special requirements you should make sure that you let your chosen provider know about them before they agree to do business with you. You also need to make sure that you are hiring a professional payroll / accounting company because you don’t want to end up paying for a service that is below your expectations.
Payroll can be genuine task for businesses, from independent business owner to small and large businesses. With constant new changes in legislation payroll is not more a simple job.
At Total Tax Accountants we can take care of your payroll for all your staff. We will update you with all new legislation so don’t have to. With over 25+ years of experience you can be sure that your payroll is in safe hands.