IRVINE ACCOUNTING
Payroll Services
In the current economic climate, can you afford to neglect your accounts?
What we do
PAYE
The Pay As You Earn (PAYE) system is a method of paying income tax and national insurance contributions. Employer deduct tax and national insurance contributions from wages or occupational pension before paying wages or pension.
When processing wages it will often include dealing with sick pay, maternity or paternity pay and adoption pay and can also be used to collect other money that you owe to HMRC, such as overpaid tax credits, tax debts from previous years and unpaid self-employed national insurance contributions. At the end of the tax year, you also have to produce a form P60 which sets out the total amounts paid by you and deducted from your staff for the previous tax year. A tax year runs from 6 April one year to 5 April the following year.
This can all very time consuming and complicated let Irvine Accounting deal with this for you
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What is the Construction Industry Scheme(C.I.S.)?
The Construction Industry Scheme (CIS) sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry.The scheme applies mainly to contractors and subcontractors in mainstream construction work, however businesses or organisations whose core activity isn't construction but have a high annual spend on construction may also count as contractors and fall under the scheme.
Leavers P45
You have to give your employee a P45 when they stop working for you.Their P45 shows how much tax they have paid on their salary so far in the tax year (6 April to 5 April) and teh P45 has 4 parts (Part 1, Part 1A, Part 2 and Part 3).
Your will send Part 1 to HM Revenue and Customs (HMRC) and gives your employee the other parts.
By law you must give an employee a P45.
As part of us processing your payroll we provide the necssary P45 for you employees and process their leaving procedure through the payroll system
Payroll Year End
If you are an employer, you must provide a form P60 to each employee who is working for you at the end of the tax year and for whom you have completed P11. The P60 confirms an employee's final tax code and shows their total pension and/or earnings for the year, as well as the year's total tax deductions and National Insurance contributions. If you're an employee, keep form P60 as a record for self-assessment purposes.
To ensure that you meet your legal requirements and complete your year end payroll correctly we can process the necessary details, payments removing the burden and worry .
