Employment law requires that all businesses must keep records of every staff member regardless of their remuneration levels. Payroll plays an important role in almost all businesses and with complex PAYE regulations you have to be ensure that you don’t fall foul of the requirements.
Real Time Information, employers and pension providers. In April 2013 HM Revenue & Customs (HMRC) introduced a new way of reporting PAYE: Real Time Information, or RTI. ‘Real Time Information’ means that employers and pension providers will tell HMRC about PAYE payments at the time they are made as part of their payroll process.
Payroll software will collect the necessary information and send it to HMRC Online. So you will submit information about PAYE payments throughout the year as part of your payroll process, rather than at the end of the year as you do now.
RTI only affects the submission of PAYE information · payment arrangements will remain unchanged. Most employers are legally required to report payroll information in real time. HMRC will tell you when your business needs to make this move. · Pay & File for companies and Tax free payments for online more. · Company cars and Benefits-In-Kind and employee benefits; P11D’s. · Directors’ remuneration; P11D’s. · Advice on minimum wage more. · Guidance on Sick pay and Maternity pay, · PAYE and NIC; P35’s; P14’s; P45’s; P46’s; P60’s. · Payroll set up and provide customised payslips. · Payroll investigations. UK employers have to automatically enrol their staff into a workplace pension if they meet certain criteria. The law on workplace pensions has now changed and every employer must comply.
Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. This is called ‘automatic enrolment’. If you employ at least one person you are an employer and you have certain legal duties.
Employers on many occasions have requested that JT Accountants set up this process to assess staff and run a good quality pension scheme for automatic enrolment and complete the Declaration of Compliance.
If you would like more information or would like to ask us a question then call us on 0161 283 9639. JT Accountants take every care in making their recommendations and offering advice, any contract is bound between the selected accountant and the client.
JT Accountants cannot be held liable for any failure on the part of either of the parties concerned. JT Accountants is a trading name of JT Accountants Limited Company No. 06554865. Registered in England and Wales. Registered Office Flat 1, Sir Matt Busby Way, Old Trafford, Manchester, M16 0QG.