Payroll & VAT
Our payroll services, both monthly and weekly, are aimed at the small to medium business. As well as being cost-effective and efficient, we look to bring peace of mind for our clients.
Our services also include ensuring our clients comply with the latest VAT rules and regulations, and advise on the best scheme thus maximising cash flow and minimising liability. We can assist on VAT Returns and Registration.
We know that running your own payroll is time consuming and can feel a real burden. With constant renewal of taxation and employment legislation, plus the penalties incurred if you get it wrong, outsourcing payroll services can be a wise thing to do. This is especially something worth thinking about in the light of all the changes taking place.
We have a team who can take the burden away and provide all you need. Payslips, administration of PAYE, National Insurance, sick and maternity pay, completion of statutory forms to issue to your employees and submit to the Inland Revenue including P60’s, Employers Annual Return and P11Ds.
Even if you simply have a few employees like many of our clients, you may well make savings by using our experienced payroll services. All employers and pension providers must be reporting their payroll information to HMRC on or before every payday so outsourcing payroll services will help you stay compliant.
RTI (Real Time Information) is aimed at improving the operation of the PAYE (Pay As You Earn) currently. If you are an employer operating PAYE you simply submit an end of year return to HMRC. Now each time you run payroll, you will submit details about employee pay and deductions to HMRC.
Those of us running a business will know that managing VAT is time consuming and costly if you happen to get it wrong. At each point we can assist you. Whether it is registration or managing your VAT post registration.
There are various VAT schemes open to your business and we can assist in advising you on which would be most suitable. For example, some of the choices include Cash Accounting where you only need to pay VAT when you are paid by your customers or what is called the Flat Rate Scheme where businesses which are eligible for this scheme can simplify their VAT accounting by applying a flat rate percentage to their sales and paying this amount to HMRC.
Becoming registered for VAT and the type of scheme you use depends on your individual business circumstance. If you need assistance with your VAT return or are unsure what you should do regarding VAT in general, we would be delighted to discuss your individual situation with you and advise accordingly.