People are usually at the heart of most businesses, and whether you have 5 employees or 50 it’s down to you to make sure they get paid. Thankfully we're here to help.
Payroll and pensions can be a complex area, and as a business grows and headcount increases most owners are quick to ask us to help run the payroll. We take the stress out of running the payroll, calculating employee pay, tax deductions, and workplace pension contributions for you. Let’s explore exactly what is required.
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As soon as you employ people, you will need to register for a payroll scheme with HMRC, and start operating this weekly, 4 weekly or monthly. For most of our clients a monthly scheme is usually appropriate. We can help you register a scheme, obtain the details you need from your employees and start operating the payroll. When we process the payroll, we’ll work out the tax and national insurance deductions for each of your employees, the employers national insurance, and the pension contributions that the employee and the business are required to make. The great thing about outsourcing the payroll is your employees have someone else they can speak to about their payslips and our cloud solutions give each employee access to payslips, p60s and other relevant forms.
For the last few years it has been mandatory for employers to operate workplace pensions schemes where they have any employees who are not directors. This means for every person you employ, you need to assess whether they need a workplace pension (there are exemptions based on age etc.), calculate the pension contributions required each month, and make the monthly contributions in to the pension scheme. Alongside this, there is a host of other administrative tasks, including the flexibility for employees to opt in or out of the schemes. We can set-up, operate and administer your pension for you so you can focus on running your business.