Wages Preparation

Brian Foster Accountants provide a Wages Preparation and Payroll Service, that is quick, efficient and accurate, keeping you compliant with HM Revenue and Customs requirements and deadlines.

We will also ensure that you stay up to date with the ever-changing payroll regulations.

We will produce your payroll at the desired frequency, calculating tax and national insurance deductions from your staff, as well as dealing with issues including holiday pay, pension deductions, statutory sick pay, statutory maternity pay and student loan deductions.

We’ll also prepare all the statutory forms required, including the employers’ P35 annual return, the employees’ annual P60 tax and pay summary and P11Ds, detailing benefits in kind.

For a new employer, a Pay As You Earn (PAYE) scheme will need to be set up with HMRC.

When you have registered, HMRC will send guidelines on operating PAYE and National Insurance (NI). There are also certain statutory payments you may have to make from time to time which you need to be aware of. These include:

  • Statutory sick pay (SSP)
  • Statutory maternity pay (SMP)
  • Statutory paternity pay (SPP)S

Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP) and Statutory Paternity Pay (SPP) are important regulations to understand as they enforce minimum legal requirements on employers. Each operates in a different way.

By employing the payroll services of Brian Foster Accountants you will not incur imposed penalties as we will cater for your every need, such penalties are imposed when employers fail to:

  • Keep the necessary records.
  • Operate PAYE or NI correctly.
  • Make the correct statutory payments.
  • Provide HMRC or the employees with the relevant forms on time.

For more information call TODAY on: 01922 457201 or 07831 774655.