Useful Payroll Information
RTI (Real Time Information) compliance reporting to HMRC
From April 2012 HMRC introduced RTI to help improve payroll and PAYE services. All information is reported to HMRC electronically according to your payroll run, i.e. weekly/monthly etc. Every time an employee is paid this must be reported to HMRC to detail how much Tax and National Insurance Contributions (NIC) falls due.
Annual reporting of forms P35, P14 are no longer required under RTI
National Insurance Contribution (NIC) Employers Allowance £3,000
You can currently reduce your employers NIC bill by up to £3,000 if you are an employer. This does not apply to everyone and there are some exemptions which can be found here
This can be claimed via your payroll software and only needs to be done once a year, usually by a tick box in the “Employment Allowance” field and then submitted with your Employment Payment Summary (EPS) to HMRC.
Construction Industry Scheme (CIS)
If you are a registered contractor for CIS then you must deduct monies from a sub-contractor’s payments and pay these on to HMRC. We can help with preparing any payroll requirements under this scheme and further reporting to HMRC and to ay sub-contractors.
Auto Enrolment – Workplace Pensions
Once you have selected your chosen Workplace Pension eg NEST. We can assist setup the pension scheme, provide necessary paperwork for your employees and sending the appropriate information to your pension provider for any employee and employer deductions.
The current guidelines for minimum deductions for automatic enrolment are outlined below:
Find out more about the Workplace Pension
National Minimum Wage
Not every worker is entitled to the National Minimum Wage.
Find out more about the current national minimum wage
A brief outline of important payroll dates:
FPS – Full Payment Submission – This must be reported to HMRC on the employee’s payday, monthly or weekly for example for every period.
EPS – Employer Payment Submission – Send along with FPS if you are reclaiming Statutory payment for maternity, paternity, adoption etc.
P60’s – Submitted to employees by 6th May following April 5th tax year end.
P11d – Report any benefits not reported via regular payroll processing or RTI by 6th July and pay by 19th July following the tax year end at 5th April
PAYE – Employers must pay HMRC and Tax and NIC deducted from employees by 22nd of the next tax month (19th if paying by post).
Find out more info on our Wages & Payroll Bureau services or please contact Gillian Lindsay firstname.lastname@example.org or call 07931 601001