Tax (PAYE) and National insurance is now required to be paid to HMRC as soon as an employee wage or salary is processed. This is called Real Time Information (RTI) and companies are required to provide a range of information about employees as soon as they are paid.
There is a requirement to submit all information electronically. This task can be onerous without a suitable up-to-date system. We provide payroll processing services so that clients are free from meeting HMRC deadlines
Our payroll processing system Sage 50 allows us to enter the details of each employee and his/her gross or net payment either weekly or monthly. We receive information from HMRC on tax codes so that calculations are up-to-date. We then produce payslips which we send to clients online and complete forms necessary to pay the tax and national insurance by the 22nd of the following month.
At the end of the tax year we produce the summary and individual forms for each member of staff. All the processing is online and we exchange emails with the client and discuss any changes required such as holiday pay and student loan deductions.
We also advise on the most efficient methodology for owners to extract income from the business through salary or dividend.
We’ll give fair impartial advice and we may even tell you it’s not worth doing it or how to do it cheaper.
As a Chartered Accountant practice, we are able to provide all accounting, tax and payroll support services.
We carry out capacity building in scores of charities and social enterprises across Scotland.