Payroll

Don’t worry about the burden of hiring staff, keeping track of holidays and making sure that you are compliant with HMRC and the Pensions Regulator.

Payroll is more than the calculation of wages and salaries. HMRC are cracking down on on IR35 legislation by making sure that employers are assessing their workforce to ensure that they fall in the realms of employment and not self employment. Many employers will want to avoid the cost of PAYE and national insurance by paying someone as self employed but little know that they are contravening the IR35 legislation and could find themselves in hot water.

Why is Payroll important?

Payroll is important so that you are aware of your obligations as an employer and what deductions to make to your employees. At 1 for All Accounting Angels Ltd, we can help you assess your workforce and decide whether they fit into the realms of self employment or employment. We can maintain your payroll scheme, calculate the wages, report in real time to HMRC and calculate any workplace pension due. We shall advise you, the employer on a monthly basis of the deductions made to your employees and when and how to pay these across to HMRC.

If you are a business within the Construction Industry and operate CIS, we will prepare your monthly return to HMRC and advise you of your liability. We are also able to advise you on how to assess your workforce and how to keep the correct records so that you are compliant at all times.

Do I need a Payroll Scheme?

If you pay employees over the lower earnings threshold of £113 then you must run a proper payroll scheme and report to HMRC before every pay period. If you pay employees less than this per week you will not need a payroll scheme or have to report to HMRC. However, it is still good practice to operate one in case at any one time you pay over this amount. If you are a sole director on a the minimum directors salary you must run a scheme to report to HMRC to protect your National Insurance Contributions. Directors salaries are equivalent currently £157 per week.

Payroll schemes are also an essential part of the business finances. It helps tracks holidays and statutory payments such as student loan deductions, SSP, SMP, SPP and SAP – please see our jargon buster page.

Whether you are a sole Director of your own Limited company, a sole trade with multiple employees our payroll services include:

• Setting up a payroll and (or) CIS scheme for new employers
• Calculation of Wages
• Submission of the RTI (Real Time Information) reports to HMRC as per statutory requirements
• Completion of statutory requirements such as P46s (advising HMRC of new employees)
• Completion of P45s
• Preparation and completion of SSP, SMP, SPP, SAP and other statutory payments
• Claiming the SMP,SPP, SAP employer compensation
• Claiming the National Insurance Employment Allowance
• Preparation and completion of P11Ds
• Preparation and completion of subcontractor CIS returns
• Preparation of subcontractor CIS statements
• Making sure you are compliant with your workplace pensions statutory reporting requirements such as;
  • Prepare for the start of auto-enrolment in your business including an initial analysis of your workforce, preparation of a cost budget and assistance with choosing an appropriate qualifying pension scheme
  • Prepare communication letters to your employees
  • Calculate employee and employer contributions and prepare payment schedules for the pension scheme provider
  • Assess your workers each payday to determine if they need to be auto-enrolled
  • Register with The Pensions Regulator and help you keep the required records

Our qualified and experienced staff are able to help you on a daily basis taking away the burden of operating a scheme yourself.