Income tax and PAYE

If you’re an employer, it’s very likely that you’ll face various legal obligations relating to payroll, income tax and PAYE. Businesses normally have to operate PAYE as part of their payroll procedures.

PAYE (‘pay as you earn’) is the system used by HMRC to collect Income Tax and National Insurance contributions directly from employers; consequently, you’ll almost certainly be expected to make and record the appropriate PAYE deductions when you pay your staff.

There are exceptions. HMRC notes that: “You don’t need to register for PAYE if none of your employees are paid £112 or more a week, get expenses and benefits, have another job or get a pension. However, you must keep payroll records.”

For the majority of businesses, payroll and PAYE responsibilities are a fact of life. Moreover, with each calculation being affected by frequently changing personal allowances and factors such as travel expenses, Company Car Tax and benefits in kind, managing PAYE properly can be an onerous task.

Fortunately, our directors and our team of tax specialists can help you meet all your legal requirements and ensure that every calculation is correct. We’re happy to take responsibility for the entire payroll function, regardless of the size of your operation, and at the year-end, we’ll also handle your formal PAYE returns, together with the completion of all the relevant forms.

Besides payroll management , we  also offer a variety of other outsourced business support services. Amongst others, these include routine bookkeeping, VAT work and auto-enrolment in work-based pensions.

Help with personal income tax

In addition to providing support for businesses, we also help clients to get the best advice they can about their own tax affairs. Through our joint venture business, Jones Harris Chartered Financial Planners, we offer a comprehensive Personal Wealth Management service that will help you with everything from income tax and inheritance tax to personal investments and pension plans.

For more details, or to arrange a free consultation, please contact us today.

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