As your employees are essential to the smooth running of your business, you may find that managing their payroll is one of the more challenging aspects of business administration. Our payroll service can give you back valuable time and offer peace of mind that it is all in hand with the experts. Whether you’re a small business with no need of an accounts department or a larger business unsure of how to manage someone in-house, by outsourcing your payroll to an accountant you get the flexible support that suits the needs of your business at an affordable and cost-efficient price.
Our Payroll Service –
- Register your company as an employer with HMRC and get log in for PAYE online
- Collect and submit any new employee data to HMRC
- Calculate weekly/monthly pay for employees, deductions and submit to HMRC for Real Time Information (RTI)
- Download and apply all tax coding notices from HMRC
- Calculate starter and leaver adjustments
- Produce management reports tailored to your requirements in excel or pdf format
- Prepare BACS files for all your payments and send them to you for authorisation
- Issue ePayslips or a combination of ePayslips and pressure sealed payslips
- Prepare P45s for all leavers
- Submit payment to HMRC for tax and National Insurance you owe
- Reclaim any statutory pay available
Need anything else? Just ask. At Ridgefield Consulting we’ll go the extra mile to provide services for the specific needs of your business.
Key Payroll Updates -
Managing payroll yourself? Make sure you keep on top of all the legal requirements that you will be responsible for. We’ve put together a few of the most important points that you need to be aware of.
Real Time Information (RTI). Since April 2013 all employers are required to submit all PAYE before or on the date of payment. You will need to use payroll software which collects the necessary information and sends direct to HMRC via the Government Gateway.
Auto-Enrolment (AE). AE was first introduced in 2012 and the phasing process is still underway. As of 1 October, all new employers must provide AE workplace pensions schemes to their employees. This means that if you have only just hired your first employee, you are immediately obliged to provide a workplace pension provision for them from their first day of employment.
From 6 April 2019 AE will see the mandatory minimum payments increase yet again from last year. For 2018/19 the minimum amount of money people had to pay into their workplace pension was 2% and 3% for employers and employees respectively. For 2019/18 the minimum contribution has increased to 3% for employers and 5% for employees. You will need to make sure your payroll reflects these increases accordingly, but it is also important to keep your staff aware of the changes to auto-enrolment and the workplace pension.
You’re welcome to speak to us if you have any concerns regarding AE for your staff.
How we can help with auto-enrolment –
- We can manage the whole AE process as part of your outsourced payroll service
- We can help you assess the employees who are entitled, eligible and non-eligible to receive AE workplace pension
- We can advise those employees who may wish to opt-out
- We can help set you up with a pension provider for your team
- We create reports and upload to the pension provider for you and your staff
- We continually assess staff in respect of AE and produce the statutory required paperwork
- We ensure that you as employers are completely compliant to AE legal obligations