Our PAYROLL SERVICES
Penny & Pounds offer payroll services to help small and medium-sized businesses manage staff payments easily.
If your business or yourself employ other people to work under your company name, then you need to make sure they are being paid right according to the law.
If you are unsure of how to carry out the payroll service properly, it can take a very long time and can be tedious. That is where Penny & Pounds come in to save the day as we do all the hard work for you.
WORKING WITH YOUR BUSINESS
When it comes to administering a payroll, it can become confusing and difficult to properly analyse so our team work alongside you, so you understand the processes your account is going through.
At the same time as getting your accounts in order, we also make sure they are legal as we follow all the current regulations in tax services and employment legislation. Our accountants have the experience you need to help you feel confident that your staff will be paid accordingly and that HMRC receives the correct tax returns.
New Business Support
We offer payroll support for small and medium businesses throughout the year. Whether you are a new business or you need someone to manage the burden of Payroll, PAYE and Payslips, call us today.
Keeping Costs Down
We believe that we provide the best solution for helping business owners keep the cost down on their bookkeeping. We can manage your accounts without the need to employ a full-time accountant.
Purpose of Payroll
The purpose of payroll in companies and businesses is to identify people when it comes to paying them, and for the HMRC to take tax away from the pay. It also ensures your employers get paid on the right date and time each week or each month.
What Does Payroll Mean for Small Business?
Payrolls are set up to ensure each individual employee gets paid the right amount, on the right date and at the right time. This is to make sure you are keeping to the rules of the contract every time your employees are paid. It also ensures the correct amount of tax and pension money is taken.
What’s Involved in Payroll Compliance?
Your payroll must comply with strict guidelines set up by the government. This includes ensuring each employee gets paid the correct amount, with the correct amount of deductions taken from their account. Taxes must be filed and paid on time, every single time, and also each employee must be given a payslip stating all the relevant information.
What are Payroll Deductions?
Most employees will have payments deducted from their pay each month, or week. The payments are already taken out before the employee even receives their pay. These deductions include tax to HMRC, child maintenance, and pension schemes, whether they have been set up by the company or by the employee.
Reporting Payroll to HMRC
Each employer takes their employees tax off their pay to be taken to the tax office on the specific day and time that has been specified. To prove to HMRC that you are paying each employee correctly, and deducting the correct amount of tax, you must file reports regularly. This usually happens every payday for each employee.
The Importance of Getting Payroll Right
It is so important to get payroll right to ensure that you are paying your employees correctly every time, and also to ensure that you are paying the correct amount of tax to the tax office each time to comply with government guidelines.
Why Choose us?
By using our payroll services, we take the pressure off you when it comes to paying your employees correctly, and we can also provide payslips. Our payroll service is second to none, and we have been supporting business needs for many years.
So if you are looking for a local company based in Redcar, who can offer the best advice, all you need to do is get in touch. Feel free to contact us for a friendly chat to discuss your business needs. Our office, based in the Redcar area of North Yorkshire is where our professional accountants are waiting to take your call.
LET US HELP YOUR BUSINESS
We offer a complete range of accountancy services throughout Redcar and the surrounding area, so you can get back to what is most important in your business. We will work with you to establish and implement an easy and effective payroll system within your company. Rest assured your employees will be paid correctly & on time.
We offer professional Payroll Services for your business in Redcar, Middlesbrough And North Yorkshire - Ensure Your Employees Are Paid Correctly. Make sure staff are being paid right according to the law. Contact our bookkeeping and accountant services today. We do all the hard work for you. Call 07855 326 609 to discuss your requirements.