Reimagining payroll in accountancy – a growth lever, not a loss leader
To mark National Payroll Week, Head of Payroll Christina Holloway shares her perspective on why payroll is the heartbeat of any-people powered organisation.
Payroll
It is a legal requirement for all employers to have a pension scheme in place. As an employer you will need to contribute to the scheme even if you only employ one member of staff.
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 can assist you with this.
Our payroll bureau is a fully accredited Bacs bureau, which means we can send salary payments to your staff on your behalf, along with your PAYE payments to HMRC.
We are not restricted by a daily limit of the amount of the payments, when we initiate the payment it comes out of your bank account as one amount before being distributed to the staff, someone is always available to authorise payments when you need them, staff salaries and PAYE payments are always made by the deadline.
CIS covers most construction work to buildings, including site preparation, decorating and refurbishment.
You must register as a contractor if you pay subcontractors for construction work or, if your business does not carry out construction work, but you spend an average of more than £1 million a year on construction in any three year period.
You must pay your PAYE bill to HMRC by the 22nd of the month (or the 19th of the month if you are paying by cheque through the post).
If you require extra help with your PAYE fulfilment, we are here to help with the process.
All employers migrated to real time information (RTI) from the start of the 2013/14 tax year. RTI imposes a tight requirement to report pay and deductions to HMRC at, or before, the time at which the payment is made to the employee.
At Shaw Gibbs, we can help you to ensure government guidelines are followed, and returns are filed online and on time.
All employees are legally entitled to SSP, even if they only work for you for one day.
You should have a clear policy on when you expect an employee to let you know that they will not be attending work.
Employment rights are protected whilst on SML, e.g. pay rises, accrued holiday and return to work.
To qualify for maternity leave the individual needs to be an employee of the company. It does not matter how long they have been in your employment, how many hours they work or how much they get paid.
Payrolling means that an employer treats the cash equivalent of the benefits provided to the employee as part of their pay, rather than having to report the benefit on the annual form P11D.
Benefits in kind which are run through the payroll will not, therefore, be included in the employee's PAYE tax code.
Ensuring you meet statutory deadlines, stay compliant with the Companies Act, and avoid costly fines.
Due short deadlines and increased penalties it’s vital to have experts managing your company’s secretarial duties.
Helping to reduce your liabilities and maximise your ability to extract profit.
Effective tax planning begins with sound strategies which comply with the boundaries of UK tax law.
Balancing the needs of your people with the priorities of your business is one of the toughest challenges in HR.
Getting it right takes experience, insight, and a practical understanding of how organisations really work. That’s where the team at Reality HR make a difference.
Greater control over back office functions.
Our agile outsourced offering means you are able to scale-up or down the services you outsource to us.
Tailored financial insights and compliance strategies that align with unique sector challenges.