Running your own payroll can be time consuming and complicated, particularly with the ever increasing complexity of taxation and employment legislation. There is an increasing burden on business to comply with these issues and non-compliance can lead to substantial penalties.
If you are just starting out in business we can offer payroll advice on suitable payroll routines, software and salary levels – and of course deal with all the necessary administration to set up your business payroll scheme.
Once your needs are established, it goes without saying that our full payroll bureau service is fast, friendly, confidential, RTI compliant, and includes:
- Computer generated payslips
- Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc.
- Completion of statutory forms
- Summaries and analysis of staff costs
- Administration of incentive schemes, bonuses and ex-gratia termination payments
- CIS solutions including administration and returns
- Dealing with HMRC Employer Compliance inspections (backed by optional Fee Protection Insurance)
- Paying your staff and HMRC via the BACS system
- Dealing with your monthly auto-enrolment routines via payroll
- Generating auto-enrolment communications to your staff
- Uploading auto-enrolment files to your chosen pension provider
- Dealing with auto-enrolment opt-ins/and opt-outs
Auto-Enrolment & NEST
The government introduced legislation with the aim of making people save more for their retirement. It requires all UK employers to ‘auto-enrol‘ eligible workers into an employer pension scheme. An employer will have to enrol all UK based employees into a workplace pension if all of the following criteria apply:
- Earnings are more than £10,000 a year (tax year 2014/15)
- They are not already in a suitable employer pension scheme
- They are at least 22 years old, but under state pension age
There is a minimum initial level for employer pension contributions to be paid for employees who opt in. This increases in stages until the overall amount to be contributed to each individual employee’s pension pot will be minimum of 8%, broken down as follows:
- A minimum of 3% by the employer
- The balance by the individual employee, via payroll, who will get tax relief on their payment
As well as the cost of contributions the employer will also need to bear the implementation costs for the business – including providing information for employees.
Our team can help you organise auto- enrolment by providing an integrated tailored in-house solution for clients covering:
- Project management
- Assisting with selection of suitable scheme
- Integration with payroll routines
- Costing calculations
- Employee communications
- Set up of Trust Base Schemes (e.g. NEST, Peoples Pension, NOW)
- Taking on or re-engineering your payroll and systems, if necessary.
Speak to one of our experienced team
To speak to a member of our team, please call us on 0151 228 8977 or enter your details below and a member of the team will call you back.