How to Avoid Needing to Chase Late Payme...
At Lima Accountancy, we keep on top of all our payments and make sure the...
Whether you’re running your own limited company, partnership or sole trader business, ensuring that a PAYE scheme is in place and the correct calculations are being made is essential if you are looking to take on employees or have existing staff.
Falling behind with payroll administration can be costly due to HMRC’s introduction of payment penalties and other penalties associated with real time information reporting (RTI).
HMRC work to tight deadlines and here at Lima Accountancy, we can ensure that you meet these deadlines. We offer a full payroll service from setting up your payroll scheme with HMRC, taking on new staff and preparing the weekly or monthly payslips right through to the preparation and online submission.
With the introduction of Workplace Pensions, it is now a requirement that all staff are assessed and automatically enrolled into a pension scheme if they meet certain criteria. Should your staff not meet these requirements, your duties don’t stop there, declarations need to be made to The Pensions Regulator to avoid heavy penalties being issued.
Are you working through your own limited company alone?
Many people overlook the need for a payroll scheme in these circumstances. However, having the correct advice from the outset ensures you are taking advantage of your personal tax-free allowances. This is key to saving business tax. Contact Lima Accountancy for help with the payroll scheme.
The thought of handling accounts and tax returns can be a terrifying prospect if you’ve never done it before. So, if you’re thinking of setting up a business, talk to a member of our friendly and approachable team today. For comprehensive accountancy services in West Yorkshire and across the UK, contact Lima Accountancy. You can then leave the accounts to us and can focus on making your business a success!