Payroll is essential in any business with employees. It covers:
To run your company payroll, you will first need to register as an employer with HMRC.
You need to do so before the first payday for your employees.
Give yourself enough time for this, because it can take up to five working days to get your employer PAYE reference number and accounts office reference number.
However, you cannot register more than two months before you start paying employees.
We can set up your company’s payroll on your behalf, using Xero software, which will then run automatically to suit your needs.
You can run your payroll on a weekly or monthly basis, or a combination of the two, via Xero.
This system will:
Payslips must be given or made available to all employees on or before their payday and must show the following information:
Payslips can also include information like your employee’s National Insurance number and tax code, their rate of pay, and the total amount of pay and deductions so far in the tax year.
You must run payroll according to HMRC requirements, or you could face penalties:
We can manage your payroll for you, using the Xero automated system, giving you these benefits:
We manage your payroll, leaving you to focus on your core business objectives.
Operating from our London head office, Venn Accounts a traditional accounting firm. We are committed to ensuring all our clients are completely clear about what we can do for them, while fully supporting them every step of the way.
Contact us and speak to a member of our team about our annual account service.