Payroll

Company Payroll Services

Every business that employs staff will have to file monthly and annual forms by RTI. The year end employer returns have strict statutory deadlines.  These businesses will also need to make monthly or quarterly payments of PAYE and National Insurance (NIC) to the Her Majesty Revenue and Custom (HMRC).

Penalties and interest would be due to HMRC for not meeting the PAYE and National Insurance (NIC) deadlines.

Where the employees are provided with benefits in kind, such as company cars company fuel, telephone line at home, medical insurance, then declaration of these needs to be made on form P11D on strict HMRC deadline.

There may be NIC implication through payroll. Benefits in kind give rise to class 1A National Insurance (NIC) charge, the payment of which to the (HMRC) by the employers falls in July.

PAYE and National Insurance deductions for any employee is based on the salary, tax and NIC rates and their personal  PAYE code.  The PAYE code can be made up of their personal allowances less deductions such as, benefits  in kind, outstanding tax and other untaxed income. Where deductions exceed the personal allowances, the employee ends on a ‘K’ code. In simple terms, a ‘K’ code is quite the reverse of an allowance hence giving rise to further PAYE.

It is vital to ensure that the PAYE Codes raised by the HMRC are checked for accuracy to ensure correct payroll accounting  and that only the correct PAYE deduction is made from the employees’ salary. It is equally important to ensure that the PAYE codes are up to date for changes such as those in relation to benefits in kind. Timely notifying changes to the tax office in manner ensures correct PAYE codes and resulting in correct PAYE and NIC deductions. Outsourcing payroll services to Brighton Accountant benefits your business to comply with HMRC’s regulations and deadlines.  We can also assist you with PAYE and NIC compliance HMRC visits, investigations and enquiries.

With Brighton Accountant as your tax advisors and accountants, with our expert service we can look after the above to unburden the administration impact on your business.

Our payroll  service can be provided as an individual service. It may also be combined with other tax advice and accountancy services that Brighton Accountant can offer as your appointed Accountants and Tax Advisors.

For well over 20+ years Brighton Accountant have served as Payroll Bureau, Accountants and Tax ConsultantsWe cover London to Brighton, Chichester, Eastbourne, Hastings, Hove, Lewes, Worthing and most of East Sussex and West Sussex. We also service most of Greater London and Central London.

Contacts Accountants Hove, London, Brighton

                 

Accountants in Brighton
86-88 Old London Road
Patcham, Brighton
East Sussex BN1 8XQ
0800 160 1400
info@brighton-accountant.com
http://www.brighton-accountant.com

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