Administering payroll can be a time consuming and burdensome task which uses up company resources and diverts energy away from the core activities of your business. Find out how an accountant can help you to pay your employee wages.
Paying wages isn’t as simple as dishing out cash to your employees each month. Payroll involves a number of tasks made all the more complex by tax and employment legislation and failure to comply can lead to hefty penalties.
Not to mention, any hint of payroll errors or issues such as late payments or miscalculated wages can lead to seriously disgruntled staff.
Fortunately, at Ryans, we have a dedicated team of chartered accountants who can help to relieve this burden with a comprehensive and confidential payroll service.
What Does Ryans’ Payroll Service Include?
Under our payroll service, we can deliver:
Customised Payslips
We can help you to create customised payslips, featuring your logo, font and desired layout.
We’ll then take on the responsibility of sending these out to your employees, in line with the Employment Rights Act 1996, which states that by law, employers must give all of their employees and workers payslips.
This also involves updating payslips when employees receive an increase (or decrease) in pay, or when a new employee starts.
Administration of Taxes and Additional Pay
We understand that tax can be, well, taxing. That’s why at Ryans, we take care of the administration of PAYE, National Insurance (NI), Statutory Sick Pay, Statutory Maternity Pay etc in line with HMRC’s rules and regulations, so you have one less thing to worry about.
Completion of Statutory Forms
Submitting the necessary forms for year end tax returns to issue to your employees and submit to HMRC can be incredibly time consuming and the risk of non-compliance can be high for those who aren’t experts in tax.
The good news is that we can take care of this for you, ensuring all of your forms are filled in accurately in the way that HMRC wants, so you can rest easy knowing you’re fully compliant.
Summaries and Analyses of Staff Costs
Knowing and understanding the costs associated with each aspect is important when it comes to thinking about the growth and success of your business.
Calculating how much an employee costs isn’t just about the base salary you offer them; it also includes the employment taxes that you are required to pay the government for each employee you hire, any benefits you offer them and any pension schemes you have in place.
At Ryans, we can account for all aspects of the costs attached to your employees and provide you with a comprehensive summary and analysis to help you get the full picture.
Administration of Incentive Schemes, Bonuses, Ex-Gratia and Termination Payments
On top of your employees’ base salary, you may occasionally want or need to pay for things such as incentive schemes, bonuses, ex-gratia and termination payments.
Fortunately, we can take care of all of this for you, ensuring all payments are administered correctly and that tax payments are updated to meet new wages.
Administration of Pension Schemes
For many employers, particularly small ones, deciding on a pension scheme for automatic enrolment can seem complex. That’s why many businesses take advice from a Chartered Account such as Ryans to help them make a more informed decision.
Once a pension scheme is in place, we can also help to administer it, ensuring employees are paying into their pension properly.
For more information about our payroll services, please reach out to our team.