”Payroll’ refers to the records – paper or electronic – and calculations that you make to work out your employees’ pay and deductions under the Pay As You Earn (PAYE) system. It covers all the payments you make to your employees, including:
- wages and salaries
- overtime
- commission and bonuses
- holiday pay
- statutory payments – Statutory Sick Pay and Statutory Maternity, Paternity or Adoption pay
Payroll covers things like employer’s NICs and the value of perks and benefits too. It also shows all the deductions you make before paying your employees, like Income Tax, employees’ NICs and any student loan deductions.
It’s essential to your business that you pay your employees the right amount and on time – and that you make the correct deductions. So keeping accurate payroll records is really important.
RKG Consulting can provide payroll set-up and ongoing processing services. We can generate weekly or monthly reports showing:
- The Payroll Summary showing a list of all your employees and their weekly / monthly gross salaries, PAYE deductions, NI deductions for both employee and employer, the net pay due to them, year to date summaries and a host of other important information.
- The “BACS” payment list showing the list of employees, their bank details and the net wage or salary due to them for that period’s payroll. Once you have the BACS list you can send the list to your bank or make the payments online yourself.
- The monthly PAYE/NI return due to HMRC showing a summary of the PAYE & NI deducted for the period and the total payment due to HMRC.
- Payslips for your employees – we can prepare these on paper or provide the payslips electronically and email the payslips to the employees.
- We can also prepare end of year returns such as P35s, P14s and P60s.
- We can assist you in preparing and filing forms P46 (new starter) and P45(leaver) in order that HMRC are kept up to date in terms of staff movement.
We provide a very wide range of payroll services. Please call us to obtain more details.