Payroll Services for Businesses in Kingston upon Thames
Dealing with payroll can be a serious burden for busy business owners. Increasingly, businesses in Kingston upon Thames find that outsourcing the payroll function to specialists is an effective solution.
To administer your own payroll you would need to:
- Register as an employer with your PAYE tax office
- Implement a system for calculating additional pay (eg bonuses and commission) and any taxable benefits-in-kind
- Make sure you are compliant with regulations concerning sick pay and maternity, paternity and adoption pay and pension contributions
- Administer expenses
- Schedule dates for making payments to employees and HMRC
- Administer monthly and year-end PAYE filings and employee documents
- Purchase appropriate payroll software
- Keep up to date with HMRC payroll rules
- Deal with new staff, employees leaving, sickness, maternity, paternity and adoption leave.
Outsourcing payroll can alleviate you of this responsibility and ensure your business complies with the relevant legislation. A good payroll service will provide you with:
- Administration of incentive schemes, bonuses, and ex-gratia and termination payments
- Summaries and analyses of staff costs
- Customised payslips
- Administration of pension schemes
- Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
- Completion of statutory returns, including monthly and year end returns, to issue to your employees and submit to HM Revenue and Customs
As a firm of Accountants in Kingston upon Thames we can provide you will all the payroll services you need. Please contact us for more help and advice about payroll.