Payroll

Payroll

The firm has invested heavily in payroll software to ensure efficient and accurate production of the pay run so you do not have to. This time consuming and often confusing task can easily be outsourced by those wishing to spend more time on their business.

Many businesses also wish to have advice on designing staff pay structures which we are more than happy to help.

Real Time Information

From April 2013, the payroll process is changing to Real Time Information (RTI). We are prepared for this change and are assisting our clients where possible. We have seen many owner-managed businesses start to outsource their payroll due to the changes.

We supply clients with weekly, 4-weekly and monthly payroll runs providing them with wage slips for distribution to staff and advising them of liabilities payable.

Workplace pensions

We assist clients with the setup of a workplace pension and it's ongoing administration. We are currently helping clients comply with the new auto enrolment regulations using our preferred pension provider NEST. This pension scheme has been setup by government as a cost-effective solution for small employers to comply with the new regulations.

Further details can be found on NEST by visiting their website www.nestpensions.org.uk

There are a number of pensions schemes setup to meet the demand of auto enrolment. If you already have a workplace pension scheme setup, we can manage any scheme on an ongoing basis in accordance with our clients requirements.

Directors remuneration reporting

It is very common amongst owner-managed businesses to extract funds from their company by paying a small salary with the remainder being covered by dividend distributions.

Not only is this strategy tax efficient, it is also vital to ensure the directors obtain their credits towards a basic state pension and ensure claims towards state benefits are obtained where applicable.

Staff remuneration packages

Many businesses understand the importance to retain and incentivise its employees as this ultimately improves productivity, loyalty and profitability.

We are seeing that the introduction of the NEST (National Employment Savings Trust) has affected the cost of employees. Increasing national insurance rates has also influenced costs. Many businesses are reviewing their company pension schemes and benefits packages to ensure they are as cost effective and tax efficient. In addition to this, it is also important to ensure the benefits offered to employees are of value.

Common areas looked at are as follows:-

  • NEST and company pensions
  • Private healthcare schemes
  • Performance appraisal
  • Company cars
  • Income protection policies
  • Life assurance policies
  • Tax free benefits
  • Childcare vouchers
  • Staff events
  • Continuing professional development and training

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