The payroll runs are vital, but often time consuming to any company. Whilst all employees rightly demand punctual payment, it can consume valuable management time to complete payroll tasks. Small businesses in particular find the compliance and operation of a payroll particularly onerous. Larger businesses find that too much managerial time is spent operating and administering it.
Our service releases them from the burden, to focus on their core business roles. whilst maintaining a degree of control and input.
Our payroll service guarantees compliance with Payroll legislation and statutory requirements meaning you don’t have to keep re-training your payroll employees and you won’t need to worry about them going off sick or on holiday.
We provide a quick, efficient and accurate payroll service in RTI – Real Time Information.
What is payroll?
Payroll is a list of the company’s employees; pay run is the process completed at the end of every week / month depending on when your employees are paid. In today’s world, payroll covers both.
If you employee anyone at all, full time, part time, a few hours here and there, you will need to do a monthly pay return before paying your employees and submit this information to HMRC and the pension company.
You will to consider all the following:
- Setting up new employees and dealing with the required paperwork.
- Weekly, fortnightly, 4 weekly, monthly and quarterly payrolls to suit you.
- All types of pay: basic, overtime, holiday pay, sick pay, statutory maternity pay, attachment of earnings, pensions, student loans, etc.
- BACS, cash and cheque payment methods including cash analysis sheets
- Department and or Cost Centre breakdowns provided if required
- Computer generated Pay slips, distributed to you or direct to each employee
- Records kept for each employee: on all pay matters
- P11D for employees that receive a Benefit in Kind (BIK)
- Email or post all reports for your records
- Dealing with leaving employees producing the P45
- End of year P60’s
What is RTI?
RTI stands for Real Time Information. From April 2013, all companies have to submit a payroll return at the end pay of each period (weekly, monthly etc.) which has to be done online and before you pay your employees. This will mean a lot more work for you if you run your own payroll system. The good news is that Numbers2Knowledge is completely RTI-compliant.
Whatever your payroll needs, we’ve got it covered.