As a payroll provider, I know the importance of keeping accurate records for business - because that is actually a LOT of what my business is about.
Once I have finished writing this, I am off to visit a potential client.
They have all of their payroll records up to date, they are clearly filed in a systematic manner - you know that filing system where EVERYTHING goes in to the one pile, that way, you are guaranteed that the paper you are looking for is definitively in that one pile?
As a payroll provider, I want to help small business owners. I have owned and run businesses where I have let the paperwork drag me down. I have learned from this, and I have found out the hard way that the only way to keep on top of things is actually to keep on top of them.
So what records are actually required?
There is a legal requirement to keep suitable and sufficient records of all of your PAYE records.
These include:
- All payments made to employees
- Deductions made from your employee's wages including Income Tax, National Insurance Contributions, Student Loan repayments and any other deductions
- Details of Employee Benefits and Expenses
- All records of Statutory Payments
These records allow you to work out how much tax and national insurance and other payments need to be made.
At what point in the week do you record all of this?
So... your business is going well, you are bringing on a member of staff, or two, or ten.
That probably means that you need to do more work in whatever your chosen field is.
That requires more effort, more ordering of stock, more designing of things, more dealing with customers, more, more more more more!!!
Wages will always get paid, and staff will always get their money, but the record keeping side of things.... becomes one of these tasks that just gets put off and put off and put off.
Before it gets to that point... CALL US!
In the last week, I have had two new clients who have both commented on the weight that I was lifting from their shoulders. I KNOW that payroll is not glamorous or sexy (I also know that the I would fall in to that same category :-( !! ) but what I do as a payroll provider is to remove SOME of the stress of running a business.
- We take pride in processing the payroll in a manner that suits you.
- We take pride in getting it right for our customers and their staff
- We take pride in being flexible enough to accommodate all types of business
- We take pride in the fact that we are honest and open about what we can and cannot do
- We take pride in the fact that we are genuinely here to help your business succeed
Record Keeping for HMRC
We can do it.
Really.
It's that simple.
Bring us on board to run your payroll for you and after we have set you up as a client all you need to do is tell us how many hours your staff were at or not at work.
- Fill in a timesheet
- We process all the details and return a summary for you to check over
- Once you are happy, we will send out payslips to your staff
- We send details to you to let you know what you need to pay your staff and HMRC
- We send you our bill
- You pay it
All of this can be done through our secure client website, and for the majority of clients takes only a couple of minutes.
If we are here to help, and with clear pricing from £32.50/month, WHY do people insist on battling for hours through paperwork that they will never complete and regulations that they don't understand?
We are payroll specialists.
We do what we do, so that you can concentrate on whatever it is that YOU are good at.
So wherever you are, and whatever it is that you are good at, please get in touch and see how we can help.
Now... off to meet someone who is VERY talented at what they do... but they just don't do paperwork.
That's ok... because WE do.
Speak soon
Ross
:-)