If you are paying employees in the UK you usually have to run a PAYE and file and RTI report each month. PAYE, or Pay as You Earn, is a system used by HMRC to collect income tax and national insurance contributions form employees as they earn it.
As an employer you are responsible for deducting tax and NI from your employees salary on behalf of HMRC and pay it over to them.
Once you have decided that you are going to begin hiring employees to assist you within your business we firstly need to register the business for PAYE with HMRC. Our in-house Bookkeeper and Accountant can deal with the registration for you. Once we file the registration with HMRC they will send you through an Accounts Office Reference and a PAYE Reference. Usually within around 7 days. We would then use these referenced to file your monthly PAYE and RTI with HMRC.
Our Payroll services include:
Processing new starters & leavers,
Processing weekly/monthly payslips, calculating the income tax and national insurance contributions,
Processing tax code notices from HMRC for your employees,
HMRC Agent service - this enables us to speak to HRMC on your behalf should you need us to,
Submitting RTI reports to HMRC and letting you know how much tax and NI to pay over to them,
Payroll yearend submissions to HMRC.
If you are implying staff who meet the following criteria you will need to enrol them into a workplace pension scheme and start contributing towards their pension pot:
Over the age of 22
Under the State Pension age
Earn over £10,000 per year
Are not enrolled in any other workplace pension schemes.
At Moss Accounting we can manage the whole process for you, from initial set up of the scheme to ongoing compliance.