Payroll
From April 2013, Real Time Information (RTI) payroll reporting is required for all payrolls, tax and National Insurance (NIC) and this requires submission of an electronic report to HMRC and then pay the PAYE and NIC due.
This data must agree to your payroll, tax and NIC records and of course we do this as part of our normal payroll service. The good news is there is no longer a year end form P35 and other end of year reports.
P11ds
The company may pay certain benefits for your family or employees and each year these are reported on HMRC Form P11d.
Benefits include company cars, push bikes, private health and dental insurance, jet ski’s, aircraft etc and it can be beneficial to pay through the business. If you pay these, every year in early July you have to report the taxable benefit to HMRC and pay Class 1a NIC. We can help with this – we just need to know you want our help!
Child Tax Credits
CTC’s are a way of obtaining vouchers via the payroll to effectively “pay” for certain child care costs to a limit of 70% of the actual cost. Both parents must work more than 16 hours a week and its limited on the total PAYE parental income but can be a useful top up.
Running a business can be an incredible challenge and the hardest of tasks. With so much to think about, organise and complete it often requires more than 1 person to balance the load.
At Warwick Norton we understand the pressures and requirements in succeeding and have the experience and understanding of what a business needs so we become a problem solution.
Our confidential payroll service gives you peace of mind knowing this key area is taken care of.
For more information please email Claire Brown:
