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Tel | 01395 542 575
or | 01392 241 756
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Payroll Services

Based in Exeter, our specialist accountants are able to provide our clients with high quality payroll services, designed to meet their business's needs and requirements.

Nowhere are the rules and regulations changing faster than in the field of PAYE.

The responsibilities of employers seem to expand by the day and nothing will upset your staff more than getting their remuneration wrong!

Do not worry; help is at hand from our specialist accountants.

PAYE ( Pay as You Earn)

No matter how diligent you are with your payroll, or how complete you records are, having a letter from HMRC informing you of a PAYE/NIC inspection can still catch you unawares. Make sure that you follow some basic pointers and you will get through to the other side without any problems.

You must keep all payroll records for three years from the end of a tax year. But, HMRC can investigate your accounts up to six years after the tax year ends, so keep them for six years, just in case. With the proliferation of computers, you more likely than ever to be subjected to a complete review of your records, systems and procedures. So be sure that you keep back-ups of everything in a secure place.

As soon as you become aware of any issue to do with your PAYE/NIC sort it out. That way you don't have anything hanging over your head. You don't want a guilty conscience when HMRC visit your business premises.

The officials from HMRC will come to visit you to carry out a PAYE/NIC investigation. They will thoroughly check:

  • PAYE deduction working sheets
  • Employee codes
  • Reconciliation of your P35 with your internal records
  • New employees and leavers procedures
  • Expense payments and P11D
  • Employee benefits and P9D
  • Compliance with rules governing dispensation, sub-contractors and NIC regulations

They will also look for any evidence of cash payments, especially where PAYE/NIC would not have been deducted.


 
Services include:
  • Preparation of your weekly or monthly payroll calculations
  • Advising PAYE and National Insurance liabilities
  • Payment of payroll by direct credit into employees bank accounts
  • Preparation of P60s, P11Ds, P45s and the Annual Return, form P35
  • Class 1A Calculations
  • Working and Families Tax Credit
  • Stakeholder Pensions

 

If you pay more than £1 a week employee you will need a P45 or completed P46. If the employment is the employee's only or main employment (or this is what they claim) then both PAYE and NIC must be deducted is the gross payment exceeds the primary threshold. You need to be careful and follow these rules as HMRC will strictly check for this and if the right forms have not been completed, you will be charged the relevant PAYE and NIC on the gross monies paid to the employee. Even if no tax or NIC's would have been paid anyway. On top of this, if no income tax or NIC need be paid, you must still keep accurate records of all payments and expenses paid.

The vast majority of PAYE/NIC inspections will result in the officials from HMRC uncovering some discrepancies. It is usual for HMRC to calculate any 'lost' tax or NI over a time period of up to six years or even more if they feel that any deductions were deliberately withheld. HMRC may also impose penalties if they feel that the seriousness of the discrepancy warrants it. This can be modified by the how co-operative and open the business was during the inspection.

What we can do to help is guide you in ensuring that your records are properly formatted, correctly filled out and going over your records to check for any discrepancies. In the event that you are inspected, then we can help you reach an agreement with HMRC.

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Professional Services - Exeter Accountants
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Payroll Services
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Tax Planning
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Accountancy & Audit
Tel | 01395 542 575
or | 01392 241 756
Unit 4, Woodbury Business Park, Exeter, Devon, EX1AY
 
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