Payroll and CIS
Paying your employees is one of the most important aspects of running your business. The penalties for incorrect filings, pension non-compliance or paying below minimum wage can be so big, it can make your entire business unviable. Not getting your employees’ pay right can also undermine your staff’s motivation and can lead to a deterioration of the working environment.
Whether you’ve got 1 or 100 employees we have the expertise and experience to ensure that your payroll function is run smoothly.
Payroll and CIS FAQ's
DO I NEED TO SET UP A PAYROLL?
if you pay an employee more than £96 a week or they have had another job in the current tax year, you need to register for PAYE.
WHAT IS A DIRECTOR ONLY PAYROLL?
In order to take advantage of efficient tax planning, a director shareholder is put on payroll. The mix of employment and dividend income is still the most efficient way to extract profit from your company.
WHAT IS AN EMPLOYMENT ALLOWANCE?
If you employ someone other than yourself, you are entitled to an employment allowance. This reduces your employers’ class 1 national insurance liability by up to £10,500.
HOW MUCH SHOULD I PAY MY EMPLOYEES?
However much you want, it is important to make sure you pay at least the minimum wage. It is easier than you think to accidentally pay below minimum wage, especially when deductions from salary are involved.
DO I NEED A PENSION SCHEME?
All employers must offer a Workplace pension scheme by law.
SHOULD I REGISTER AS A CONTRACTOR FOR CIS?
If you are paying subcontractors for construction work that falls under CIS, then you should register as a contractor and make CIS deductions from your subcontractors pay.
WHEN DO I NEED TO REPORT A PAYROLL?
You must send HMRC your Payroll information on or before your employee’s payday.
WHEN DO I PAY PAYE?
The deadline for paying your PAYE is the 22nd after each tax month. You can pay quarterly if your PAYE liability is usually £1,500 or below.
HOW DO I PAY MY PAYE BILL?
Click here to see how to pay your PAYE bill. You will need to quote a reference with your payment. This will be your 13- character accounts office reference number.