The importance of maintaining a well-running, functional payroll system is obvious to any business owner. Wages have to be paid on time every time to maintain your employees' trust and productivity. For many small to medium sized business administering payroll can be lengthy, time consuming chore, using up energy and resources that could be better spent on the company's core activities. The increasing complexity of taxation and employment legislation in the UK accompanied by ever-increasing penalties for non-compliance only adds to the pressure of doing the payroll.
This is where we can make life easier on you and your business managers. At Midford Accountants, we have a dedicated team of payroll specialists who can help eliminate the burden of administering your own payroll system by providing a comprehensive payroll service that covers all the essentials. We do not believe in one-size-fits-all packages; our team of UK based accountants and payroll experts can offer customised solutions geared specifically to your company.
Our customised payroll service will include weekly or monthly payment schemes, handling PAYE, National Insurance contributions, statutory sick pay, statutory maternity pay, and credits for student loans and working families. Our payroll specialists have plenty of experience in dealing with all aspects of the UK's pay-as-you-earn system and can ensure PAYE compliance, deal with PAYE investigations and even liaise with HMRC to clear up any issues that may crop up. Our pool of Accountants can ensure that any harm from possible future investigations regarding payroll irregularities are minimised.
Our experience in setting up payroll systems is extensive. Payroll services from Midford Accountants also include time-sheets, customised payslips, BACS payments and submission of payroll year-ends. We are ready to help you at every step in the process of creating and maintaining a fully functional payroll system. Outsourcing your company's payroll needs to us ensures peace of mind and significant cost savings on your part.
Trusting your payroll services to Midford Accountants is perfect for smaller companies who do not require a separate HR department. For such situations we can act as your entire payroll service department so you do not require any specialist staff. In such a system we handle all technical and legal aspects as well, ensuring that your business managers are free to devote their time and energy on more important business activities.
Experienced company directors will recognise the importance of outsourcing ancillary administrative duties like payroll and accounting to save time and money. Midford Accountants' affordable, tailor-made payroll service can make a significant difference in your bottom line. Our payroll specialists always aim to keep things simple and focused on your company's human resource needs. Even if you are a small company with only a few employees, our payroll services can help you achieve greater operating efficiency and save money at the same time.
The introduction of RTI (Real Time Information) will demand more of your time in the management of Payroll. Failure to comply with the RTI requirements can be costly in terms of penalties and interest charges.
For 2014/15, there will be a single penalty charged each month or quarter excluding the first default. If outstanding for more than 3 months an extended failure penalty would apply as follows;Amount: £100 £200 £300 £400