Payroll
When it comes to payroll services, businesses must adhere to various requirements and regulations to ensure accurate and compliant processing of employee wages. Payroll accounting involves the recording and tracking of financial transactions related to employee compensation, including salaries, bonuses, taxes, and benefits. This process requires meticulous attention to detail to avoid errors that could lead to legal issues or financial penalties.
By partnering with experienced professionals who understand the intricacies of payroll accounting, audits, annual reports, and processing requirements specific to London and Croydon businesses can streamline their operations while ensuring compliance with local laws and regulations.
As an employer you have a legal obligation to operate PAYE on the payments you make to your employees even if you’re the only person working in your business. If you run a one-person limited company, you’ll be both an employer and an employee. You’ll need to calculate both Income Tax and national insurance contributions due to the tax man.
Most employers will now report PAYE information to HM Revenue & Customs (HMRC) in real time.
This means that employers (or their accountant, bookkeeper or payroll bureau) must:
use payroll software to send this information electronically as part of their routine payroll process.
send details to HMRC every time they pay an employee, at the time they pay them;
Our payroll services take the worry away of needing to employ staff with specialist knowledge. We provide a timely, accurate and flexible service designed to meet your needs:
Report PAYE information in real time.
New employees and leavers (P45, P46).
Input of all data.
Year-end reconciliations and printing of P60/P35/P14 which can be submitted online.
Security payslips and BACS processing can be provided.