Payroll Explained

Payroll services are associated with employee wages and the records of the amount of money each employee has made over time. Payroll is required in any business which employs people to work, and some of its elements are:

• Obtaining and keeping records of employee details
• Recording employee hours
• Calculating employee salaries and wages
• Calculating tax and NIC deductions from the gross pay
• Calculating pension deductions
• Calculating your liabilities as an employer
• Report employee details and payment/deductions to HMRC
• Report any taxable benefits provided to your employees
• And obviously, paying your employees.

As an employer, you also have responsibilities towards your employees. Some of the notable ones are:

• Offering your employees contracts
• Offering a certain number of paid holidays per year
• Pay employees at least the minimum wage
• Have employer’s liability insurance

The full list of your responsibilities as an employer can be found on the gov.uk website. Our services will simplify the process, remove uncertainty, and allow you to focus on the core of your business. It’s worth mentioning that we, as your accountants, will only deal with computations and HMRC reporting; we will not manage your staff on your behalf.