Payroll
The payroll function is a vital part of any business infrastructure and you cannot afford to have it go wrong. Administering the payroll can be very time consuming and can divert your energy and resources from focusing on your core business objectives.
Our payroll service is entirely tailored to your requirements. It is provided by qualified and dedicated staff who are trained on a regular basis to make sure (ascertain) they are up to speed with current legislation. You will have a dedicated point of contact, so that you can get a response to your questions from someone you know and who knows your business well.
Our system and service is of the highest quality, using specialist software needed to administer this increasingly complex process, and presents a cost-effective and reliable alternative to in-house and other traditional back-office support functions.
Our range of services include;
- Compliance with real time information (RTI) submission requirements.
- Auto enrolment, pension assessment and administration.
- Weekly/fortnightly/4 weekly/monthly/quarterly/annual payrolls payments to your staff and third-party organisations like HMRC and pensions.
- All records are maintained on our document management system and easily retrievable in case of HMRC routine PAYE inspections.
- Registering new payrolls with the Inland Revenue.
- Complete set up for new payrolls.
- Preparation and processing of payrolls for any period of time.
- Full itemised payslips sent emailed directly to your employees.
- Preparation and submission of P35, P14, P60, P45 and P46 tax forms.
- Assistance with preparation and submission of form P11d.
- Calculation and payment of statutory sick and maternity pay.
- Detailed management reports.
- Processing payrolls for all types of employees.
- Employment law.
- Employment contracts.
- CIS schemes.
- Pensions (see below).
Auto-enrolment
Auto-enrolment is one of the biggest changes in the workplace for many years and is aimed at ensuring that more employees are saving for retirement and have a pension.
Auto-enrolment makes it a legal requirement for all employers to have a pension scheme in place and as an employer you will also need to contribute to the scheme even if you only employ one member of staff.
The deductions from April 2019 are 5% from the employee and 3% from the employer. You will want to factor in these additional costs when taking on new staff or when conducting salary reviews.
Auto-enrolment is a complicated area and the penalties in place for not adhering are particularly high. At Shareef & Co Chartered Accountants, we can set up your auto-enrolment scheme to guarantee full compliance, whilst meeting both internal and external deadlines. Furthermore, as an employer, you will be required to inform staff of the relevant changes, we will be able to assist you with this
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