Category Archives: Payroll

Understanding Your Pay Slip – Tax Codes Explained

Megan

Megan

As well as having Payroll experience, Meg is our main point of contact for auto-enrolment setup. Now a qualified member of AAT, Meg is building her portfolio of accounting clients in a variety of sectors.
Megan

Money from a payslipIf you are an employee or worker, you will be on a PAYE (pay as you earn) tax system, meaning tax is deducted straight from your salary – unlike the self-employed, who have to calculate and pay their own tax.

For many, this ease of use means that tax codes and deducted earning are rarely checked, which could result in over taxation.

In this blog post, we’ll cover how to find your tax code, what it means and what to do if you think you are being over taxed.

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National Minimum Wage and National Living Wage To Rise From 1st April 2017

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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British one pound coins in a stackFrom April 1st 2017 the national minimum wage and national living wage will be going up for workers in the UK. Find out more about the increase in this blog post, including the new rates and how you can ensure you are being paid the correct amount by your employer.

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A Guide To Tax Inspections For SME’s

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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preparing for a tax inspectionThe prospect of an HMRC tax inspection can be a daunting one for businesses of any size, but particularly for SME’s who may not have an accountant. The most common investigations into businesses are in relation to fraud, tax evasion and payroll tax errors.

A recent study publicised by the ICAEW indicated that since a crackdown on payroll tax errors over half of all additional sums collected in penalties were incurred by small to medium sized businesses (SME’s), despite only making up 11% (£96bn) of total UK payroll.

But what can a business do to make an HMRC tax investigation less likely, and how can the business prepare when the tax inspectors do come calling?

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 Outsourcing Your Payroll: What You Need To Know

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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Outsourcing your payroll Running payroll in-house for your business can be a complicated and potentially overwhelming task, requiring qualified staff to ensure compliance with legislation that often changes in order to avoid fines, as well as ensuring your employees are paid correctly and on time.

For many companies, the time and expense taken to keep payroll management in-house is considerably greater than the cost of outsourcing to a payroll provider. In our latest post, we take a look at the main benefits and drawbacks of outsourcing your payroll.

In our latest post, we take a look at the main benefits and drawbacks of outsourcing your payroll.

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