Payroll: Fixed and variable salary employees
The Naylor Accountancy Way...
If your business employs staff you will need to file payroll reporting with HMRC via RTI and ensure Auto Enrolment Reporting. Getting it wrong is not an option. If you use Xero or QuickBooks we can help make sure you get it right.
Running payroll can be a time consuming and confusing monthly chore – Why not let us take all of that off your hands, leaving you free to look at the bigger picture
How can we help?
Our payroll service prepares and then files your company payroll to HMRC via RTI, along with the auto enrolment.
It also send secure payslips to your employees.
In addition we advise clients on opportunities to reduce their PAYE bill.
An example is the £4k employers’ allowance that is currently available to reduce your employer’s national insurance bill.
So how does it work?
- We email you prior to the month’s payrun to see if there were any changes to the payroll, i.e. increase in salaries, new joiners or leavers
- We will chase until we get a response unless you are the only employee as a director
- If there have been changes to the previous month’s payroll we will confirm that you are happy with them before we send out the payslips
- We then submit the payroll to HMRC via RTI and report any auto enrolment pension contributions
- We electronically send out payslips to your team. This is done securely, and password protected in compliance with GDPR
- We electronically send out any P45s securely and password protected, again in compliance with GDPR
- Once a year in April we will electronically send out P60s securely and password protected and of course in compliance with GDPR. We do this after submitting final FPS or EPS to HMRC
- For new employees we will set them up on your payroll and ensure that auto enrolment compliance is carried out if we are doing this for you
P11d's - What are they and how do we manage them?
If you provide expenses and benefits to employees or directors, you might need to tell HMRC and pay tax and National Insurance on them.
If you provide benefits to your employees – cars, private medical insurance, gym membership, etc – we will prepare and file the annual P11D form to HMRC.
Examples of expenses and benefits include:
- Company cars
- Health insurance
- Gym membership
- Travel and entertainment expenses
- Childcare
You’ll also need to submit a P11D(b) form if:
- You’ve submitted any P11D forms
- You’ve paid employees’ expenses or benefits through your payroll
- HMRC have asked you to - either by sending you a form or an email
Your P11D(b) tells HMRC how much Class 1A National Insurance you need to pay on all the expenses and benefits you’ve provided.
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Payroll: Fixed and Variable Salary Employees
Talk to us about your concerns and aspirations. What needs looking at within your business?