What is it exactly?
In the UK, payroll tax works through the Pay As You Earn (PAYE) system. In simplest terms, if you’re an employer, it’s your job to work out how much tax your employees owe, subtract it from their pay packet and send it to Her Majesty’s Revenue and Customs (HMRC).
You do this every time you pay your employees – for the vast majority of businesses, that’s monthly – and the process is the same for salaried workers as for those paid by the hour.
As always, it’s crucial you keep your accounts up to date. In addition to making sure your workers are getting paid the correct amount, you also need to send your most recent pay deductions to HMRC by the 19th of every month if you pay by post and by the 22nd if you pay electronically.
Why Hire us?
An effective solution to this is to out-source some or all of these responsibilities to T&W Accounts. This doesn’t mean you lose control. On the contrary, you gain control because you can get on with what really makes your business tick, safe in the knowledge your payroll and bookkeeping are being looked after accurately and efficiently.
What is the process?
We use the Award-Winning BrightPay Payroll Bureau to manage all payroll solutions, giving flexibility on payroll schedules and arrangements. This software integrates exceptionally with various bookkeeping software and Pension providers.
Here’s what we do exactly
Real Time Information (RTI) and bespoke reporting
Weekly, bi-weekly, four-weekly, monthly and annual payroll
Payslips and e-payslips
Supporting e-banking facilities
Preparation of the year end compliance procedures
Preparation of forms P11D and advice on benefits in kind
Advice on SSP, SMP, SPP and related statutory matters
Advice on short time working, layoff and redundancy procedures
Advice on National Minimum Wage
Attachment of earnings
Tax credits and Working Tax Credits
Setting up pension schemes and auto enrolment compliance
Learn the basics
News & Helpguides
For the eager-to-learn business owners, we have a bank of helpful learning guides and information in our resource centre for you to add to your toolkit.