Payroll
With the implementation by HMRC of RTI for payroll, Employers are under increased pressure to get their payroll records correct and are now required to submit a monthly return known as full payment submission (FPS) prior to paying their Employees. Failure to follow the strict rules will eventually result in penalties being imposed for each FPS which is not submitted and further fines should the PAYE tax not be paid by the due date. It is likely these fines will be issued each month and continue to be sent monthly until the FPS is submitted or tax liability paid for the month in question.
To save you this worry we prepare your payroll in accordance with these strict rules. This will eliminate the likelihood of penalties being imposed on your business for failure to adhere to the guidelines.
After the initial set up you simply send us a list of the Employees to be included on the payroll and we return your payslips and inform you of the amount to pay HMRC, we will submit the FPS on your behalf and provide your Employees yearend P60’s.
Auto Enrolment into Workplace Pensions
You’ve probably heard the expression “we’re all in” all over the TV and radio. But are you ready?
The government introduced a new law in 2012 which requires every employer to automatically enrol their employees into a workplace pension.
By January 2014 all companies with 250 or more employees will be obliged to take part, all other companies will become obliged to take part at different staging dates up to 2018.
These changes are being introduced to help people save more for their retirement.
The new law means that every employer must automatically enrol workers into a workplace pension scheme if they:
- are aged between 22 and State Pension age
- earn more than £10,000 a year
- work in the UK
Contributions have to meet the following minimum levels:
| From Staging Date | From 1st Oct 17 | From 1st Oct 18 | |
| Employer | 1% | 2% | 3% |
| Employee | 1% | 3% | 5% |
Now that auto enrolment is here there are several steps you must follow to ensure you are ready for when your staging date arrives.
Do you understand your obligations and are you ready?
We can run your payroll to calculate the contributions, send the necessary data to your Pension Provider, produce the mandatory letters which must be distributed to your work force and keep you compliant with The Pensions Regulator. Visit our Auto Enrolment page for detailed information.
N.B. Payroll services are currently not endorsed by ICB.