We will cover below what you need to do to set up and run your payroll. If your business is in Bromley, Kent and London areas we, at Adiva Bromley accountant, can help you to set up and run the payroll for you.
If you want to set up a Pay As You Earn (PAYE) scheme with HMRC it is necessary to contact the New Employer’s Helpline on 0300 200 3211. Alternatively, you can register online via the GOV.UK website.
As an employer, you will be responsible for operating PAYE and National Insurance (NI). You need to be aware of certain statutory payments you may have to make from time to time. These statutory payments include:
- statutory sick pay (SSP)
- statutory maternity pay (SMP) and
- ordinary statutory paternity pay (OSPP)
- shared parental pay (ShPP)
The GOV.UK website has a vast amount of information detailing the operation of PAYE together with online calculators. These can be accessed as part of the HMRC Basic PAYE tools.
You can request HMRC to send you several booklets and tables to enable you to make the relevant deductions and payments to your employees. However, the majority of employers use the HMRC Basic PAYE tools or other payroll software.
The reporting of Real Time Information
Employers, or their agents, are generally required to make regular online payroll submissions for each pay period during the year. These submissions should be done on or before the date they are paid to the employees. They detail payments and deductions made from employees.
More detailed guidance and information on operating your payroll under Real Time Information can be found by clicking here.
If your business is in Bromley, Kent and London areas we, at Adiva Bromley Accountant, can help you to set up and run the payroll for you.