Try our red-carpet payroll services from A to Z
Whether you are a sole Trader or large business employer, payroll process may include various complexities like bonus, commission, travelling, advanced payment, re-imbursements, deductions, pension contributions etc. Whatever complexity your payroll has our dedicated team of experienced and efficient bookkeepers and accountants at HA, are here to tailor match to your current and growing business needs and to manage all your HMRC compliant PAYE requirements.
HA Specifically carry out the following tasks for payroll services:
If you are paying yourself a salary, then you are required to run this through the PAYE scheme. You may also wish to consider paying dividends from the business – please read the Dividends section for more information on this.
Running Payroll for your business
Hampshire Accountants offers comprehensive a wide range payroll services to businesses across the UK and from a broad range of sectors.
We provide a tailor-made service addressing all the payroll requirements of our Clients, from weekly or monthly processing of payslips to year-end reporting and auto-enrolment services.
There are three major services our managed payroll services provide are outlined below as:
Initial Payroll system setup
• Our dedicated team conduct a client consultation through interview to better understand your specific requirements
• If the client agrees to sign to our services we help to transfer all current employees to our payroll systems via CSV or excel or alternatively maintain the existing current payroll system.
• To maintain consistence and to prevent system incompatibility we perform a parallel payroll run prior to going live to ensure a smooth transition to our systems.
• From the onset our team make sure that the client approval process and payroll timetable is agreed to avoid an potential delay in payroll processing.
Processing of either weekly or monthly payroll
• Our team promptly perform a payroll run routinely as agreed with client , updating for any changes within the period new starters / leavers etc and clients’ employee tax codes updates from HMRC. Note we always stick to clients record timesheets or any agreed payment method to avoid payment of ghost workers.
• We create personalised pay and deduction reports for client approval before sending payslips
• We create BACS files for the clients to make sure that all employees eligible for the pay are included
• Our dedicated team make sure that payslips are despatched before the payday to employees (via email or post)
• To remain compliant we regularly perform after each payroll run HMRC Reporting (including RTI)
• All our clients are assured of our ongoing support from our in-house experts regarding their payroll queries
Year end Procedures
• Our team produce year end reports to perform where ever possible perform reconciliation of payroll figures
• Carry out final FPS for online submissions to HMRC as required
• In mid May or the period permits each year we produce and dispatch employees’ P60s promptly on time
• Lastly we conduct a Client Service Review to improve our service delivery for the following year for the payroll services and solve any outstanding issues
Benefits in Kind
If the company provides your staff or yourself with any benefits other than salary, then you are required to complete a P11D or P9D form for each individual and file a P11D(b) employers’ declaration form with HMRC each tax year. Benefits in kind include provision of medical insurance, company cars and fuel, company vans and gym or health club membership. The company has to pay Employers’ Class 1A NIC on the value of the benefits each tax year. The employee will also be required to pay Income Tax on their benefits. If you pay yourself or your staff a mileage allowance, this is not a benefit in kind provided it is under the statutory limits. At the date of print, the annual statutory mileage allowances for individuals using their personal car for business journeys are:
• 45 pence per mile for the first 10,000 miles
• 25 pence per mile for miles in excess of 10,000
Contracts and Legal Requirements
It is strongly recommended that you issue formal contracts of employment to your staff. These should set out the standard terms and conditions of their employment. However, if you are the sole Director of the company, you may not wish to have a formal contract of employment. This will give you flexibility. It is now a requirement to enrol all your workers to a recognised pensions . Our dedicated can help you to auto enrol to any pension scheme of your choice to meet this statutory requirement as required by the pension regulated.
We work on a fixed fee basis and attempt to provide same day response to all your phone and email enquiries. We will also allocate a designated accounts manager who would have better understanding of your and business financial and taxation affairs.
Book a free consultation call using the link below.