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    PAYE, PAYROLL AND RTI

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    As an Employer, you normally have to operate PAYE as part of your payroll.

     

    PAYE is HM Revenue and Customs’ (HMRC) system to collect Income Tax and National Insurance from employment.

     

    You must collect and keep records of:

    • What you pay your employees and the deduction you make.
    • Reports and payments you make to HM Revenue and Customs (HMRC).
    • Employee leave and sickness absences.
    • Tax code notices.
    • Taxable expenses or benefits.
    • Payroll giving scheme documents, including the agency contract and employee authorisation forms.

     

    Your records must show you’ve reported accurately, and you need to keep them for 3 years from the end of the tax year they relate to. HMRC may check your records to make sure you’re paying the right amount of tax.

     

    If you don’t keep full records, HMRC may estimate what you have to pay and charge you a penalty of up to £3,000.

     

    We provide a specialist moneysoft payroll bureau facility covering all areas of Pay as You Earn (PAYE), national insurance (NI) CIS tax real time information (RTI). If you deal with subcontractors we also have the facility to run your CIS scheme. If you are a business owner we can review your salary package to ensure that you are optimising your tax liabilities.

     

    So why pay excess tax and NI contributions than you need to? Why spend time on payroll administration when you could be selling? We can help you in this area, while ensuring that you comply with your obligations. Just view our PAYE and NI guides to find out more.

     

    Simply click CONTACT and enter your details below then we’ll contact you to arrange a no-obligation Meeting.

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