The term ‘payroll‘ may refer to the workers in a company, plus information about them. It might also refer to the amount of money the employer pays its workers. We often use the term when we are talking about the process of calculating workers’ pay and taxes.
When to set up payroll
Quite simply when you are taking on your first member of staff or are a director paying monies to yourself in a Limited company you should be speaking to an accountant about how to structure this to achieve maximum tax efficiency.
Did You Know?
Small employers can take advantage of Employment allowance. This is a relief open to small employers and currently you can claim up to £4000 relief against Employers National Insurance each tax year.
Grant Funding, as the government is looking forward at investment into the country after the Covid-pandemic there are lots of employee grant schemes available. We can help advise and support application for funding.
Auto-enrolment pensions are mandatory for all employers and part of our service is to offer advice and support to ensure you are covered on the administration of this.
We work with various business partners that can help you with free initial consultation and advice covering Health and Safety, Insurance and Employment Law to make sure your business is covered when its comes to employing staff.