82 Nottingham Road Somercotes Alfreton Derbyshire DE55 4LY 01773 607651 [email protected]

Running a company payroll correctly and adhering to all of the current regulations is a time consuming task with complex tax and employment legislation and penalties for non-compliance. With effect from April 2013 HM Revenue and Customs introduced a new way of reporting PAYE: Real Time Information (RTI) Under RTI, information about PAYE payments need be submitted every time you pay an employee at the time of each payment as part of the payroll process. Every time your wages are processed the information will be sent to H M Revenue and Customs online. Currently penalties are not charged for late submission but they will be coming into effect over 2014/2015. With constantly changing legislations Pedley's fully compliant payroll service takes the pain, cost and effort out of this very time consuming but important task leaving you more time to manage your business. Our fully compliant payroll service consists of:

  • Processing weekly, monthly or quarterly payroll
  • Producing payslips for each employee
  • Adding new employees to the payroll
  • Providing P45's to employees that are leaving
  • Submitting Full Payment Submissions (FPS) each time an employee is paid
  • Submitting an Employer Payment Summary (EPS) each month
  • Calculating Statutory payments (SSP, SMP, SPP etc.)
  • Providing you with a monthly or quarterly PAYE calculation
  • Producing P60's for each employee
  • Submitting P11d's and P11d(b)'s for any Benefits in Kind
  • Liaising with H M Revenue and Customs as your agents

In order to process wages under RTI it is essential that the employer must have the correct employee information:

  • Full name, official forename(s) and surname (no initials) in the correct order
  • Date of birth
  • Gender
  • Marital status
  • National Insurance Number- if not available a passport must be provided
  • Address (including postcode)
  • Normal hours worked each week

 

Rate from April 2022  minimum wage rates which are as follows: 

 National Living Wage  £9.50
 21-22 Year Old Rate   £9.18
 18-20 Year Old Rate  £6.83
 16-17 Year Old Rate  £4.81
 Apprentice Rate  £4.81
 Accommodation Offset  £8.70

 

For more information: https://www.gov.uk/business-tax/paye  

Workplace Pensions

A new law means that every employer must automatically enroll worker into a workplace pension scheme. All employers, no matter how large or small, have a legal duty to automatically enrol eligible staff into a workplace pension and must do so by a deadline that is specific to you. Failure to comply could lead to financial penaties. For more information on this topic please follow the link below: http://www.thepensionsregulator.gov.uk/automatic-enrolment.aspx  

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VAT REGULATIONS

VAT can be one of the most complex taxes faced by businesses, Pedly & Co can help with any aspect of the VAT system leaving you time to run your business.

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TAXATION

Pedley & Co provide taxation services for Individuals
and Sole Traders, Partnerships or Limited Companies

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PAYROLL AND WAGES

 Our dedicated staff will ensure that your payroll is compliant with latest regulations and is handled quickly and efficiently