Meeting your obligations as an employer can be quite unnerving, especially with the introduction of Real Time Information (RTI).
RTI means employers share information with HM Revenue & Customs (HMRC) on-or-before payments are made to employees. Penny Lane uses HMRC-approved, RTI-compliant payroll software.
We can also set up an Employers’ Scheme with HMRC for you and we can advise you of whether employees should be added to the payroll or not and deal with the relevant forms/submissions for you.
Throughout the year, we will calculate your employees’ net pay, report the figures and information to HMRC and provide you with payslips to pass on to your staff. We can calculate the tax and National Insurance deductions applicable; even if your employees are on sick, paternity or maternity leave.
We can also help you to keep track of their holiday entitlement and can file all the starters and leavers forms on your behalf. Late payments or underpayments of employers’ deductions can now lead to hefty penalties, so we can help you avoid incurring these.
We can also prepare your benefits and expenses forms and advice you of any filing requirements or National Insurance that falls due. Benefits and expenses can be a very complicated area and knowing what and where to report can be tricky, but we can relieve you of the burden.
We can file all of your in-year and year-end returns for you with HMRC and provide you with P60s to distribute to your employees at the year end.
The responsibilities faced by employers can be intimidating, but we can guide you through the processes, costs, calculations and deadlines and take care of everything for you.