Your business is expanding and you have decided to recruit a new member of staff into the business. Fantastic!
Congratulations on doing so well and on the new recruit, however, it essential that you keep up to date with the ever changing rules and regulations that come out almost three or four times a year. We ensure that you are kept informed on all the relevant rules and regulations that make a big difference to your business and save you from a potential litigation.
We also prepare your business’s weekly, biweekly or monthly payroll and produce your staff payslips, which we can email or post to you well in advance of the pay date. We integrate the relevant payroll costs into your management accounts and inform you of any tax liabilities to be paid to HM Revenue and Customs.
The Easy System Payroll will also alleviate the worries of taking on a new member of staff. We will assist with the engagement letter, the set-up of the pay structure and the allocation of the right start-up tax code.
Are you ready for the biggest change to PAYE for 60 years?
PAYE in Real Time
From April 2013, HMRC are introducing a new way of reporting PAYE it’s called Real Time Information (RTI). The change will see payroll reporting obligations move from an annual process to a monthly and weekly basis. It will require payroll information to be filed with HMRC electronically, via a payroll service provider or by using own specific software, on or before every payday. The objective is to ensure the right amount of tax is being paid.
From 6 April 2013 employers with fewer than 5,000 employees will start to file electronic RTI returns, then the requirement will extend to all employers by 6 October 2013.
We are payroll service providers who are geared up to deal with this change on your behalf, all you need to do is to sign up to our Easy System.
The main changes as a result of RTI include:-
- You will no longer need to report new starters to HMRC separately. Their information will be automatically sent when you report your payroll information;
- You will no longer need to report leavers as a separate process. You will still need to provide leavers with P45, but you will not need to report the P45 Part 1 information to HMRC. Instead, you will need to set their leaving date on their payroll record, this will ensure it is automatically sent next time you report your payroll information.
- You will need to include PAYE information for all employees, including those paid below the National Insurance Lower Earnings Limit;If an employee takes unpaid leave, you will need to set an irregular payment indicator when you make their final payment for that period (otherwise HMRC will assume they have left employment);
This sounds like a reality daunting process, as if you do not have enough to cope with already! Could you imagine buying compatible software, training staff and not worrying about missing information which leads to penalty etc… It is honestly too much hassle! Solution! Shift it to The Easy System and focus on the bigger picture, on developing your business.
Note: The Easy System charge for preparing your payroll on RTI is affordable, it starts from £5 per employee per month.