ACCOUNTANTS FOR PAYROLL SERVICES
Our Chartered Accountants provide full payroll services including advisory to small businesses in London UK
Are you a business looking for a payroll services from a qualified accountants in London?
Our team of highly skilled experienced accountants provide top notch payroll services for small to medium size businesses accross london and UK.
Accurate calculations and tax planning for Payroll services can bring a significant positive impact on your business cash flow. Our team of payroll accountants proudly provide payroll services professionally and free up your time of extensive reporting to HMRC and keeping up to date with HMRC legislation.
We use award winning cloud based payroll software to meet our clients payroll compliances.
Our comprehensive PAYE service include dealing with RTIs, EPS, FPS, Providing P60s, P45s, Auto enrollment, P11Ds and other HMRC compliances.
What is payroll (PAYE)?
Payroll is normally referred to employees getting paid by their employers. This usually involves income tax, National Insurance and pension calculation and submission. Employers operate under pay as you earn ‘PAYE’ system introduced by HM Revenue and Customs ‘HMRC’. It can be very time consuming and complicated when calculating the net wages or salary for employees cosidering sick pays or even maternity or paternity pay rules. Our experts take full responsibility of payroll and deliver this in most tax efficient and professional manners.
What do we offer in Payroll
Our payroll advisors will analyse your business and payroll needs and offer a bespoke payroll package. They fully understand all the PAYE rule and regulations laid down by HMRC and ensure you are on top of all compliances.
Our services include;
- PAYE registration.
- Producing customised payslips on a weekly, monthly and annual basis for our clients.
- Ensuring you are up to date with Real Time Information (RTI), Full Payment Submission (FPS) and Employer Payment Summary (EPS) submissions and avoid any fines.
- Producing completed payroll form for our clients and their employees such as P45, P46, P11D, P60 etc.
- Analysing and calculating your employer allowance (if you are entitled to this) to reducing your tax liability.
- Calculating and submiting the employee’s statutory sick pay (SSP), statutory Maternity Pay (SMP), Student loan deductions and pension contributions etc.
- Sending out the payslips via emails with our clients’ company logos (where provided).
Payroll (PAYE) registeration and Real Time Information (RTI) submission to HMRC
You normally need to operate PAYE as an employer with HM Revenue and Customs (HMRC) when employ the staff for your business or use subcontractors for your construction industry business. Please you will have to register for PAYE if you are employed by your own business as a ‘limited company director’.
Please note you must register for PAYE before the first payday. You will receive PAYE reference number upto 15 working days.
Once you are registered, you will need to run monthly payroll run and submit RTIs. This is real time information on what you have paid to your employees. HM Revenue and Custom needs to receive this on or before the date you pay your employees.
Our team of expert Payroll accountants will register you and process paylips and RTIs with other compliances for you.
Auto enrolment pension compliances
As an employer you must provide a workplace pension scheme to your employees. You will have to automatically enrol your staff into a pension scheme and make contributions considering the eligibility crieteria. This is referred as ‘automatic enrolment’.
Our professional accountants for auto enrolment pension have many years of experience who will help you setting up workplace pension scheme with Nest provider or pension provider of your choice. They will look after all monthly pension submissions and compliances.
Payroll and Construction Industry Scheme (CIS)
The Construction Industry Scheme (CIS) was introduced by HMRC which dictates contractors to withhold taxes of subcontractors under certain constructions contracts unless subcontractors are registered to receive the gross payments. This needs to be reported through payroll on a monthly basis.
The calculation can be very tricky, difficult and time-consuming. Again our CIS experts accountants will support you in complying above on timely manners.
Payroll or PAYE compliances
PAYE registered business must submit their RTIs on time. HM Revenue and Customs can charge you a penalty percentage applied to the amount that was paid late. If yoiu receive a penalty, you are required to pay within 30 days of getting the notice. Alternatively you will have choice to appeal against the penalty where you do not agree with HMRC’s decision. Majestic Accountants in London have proactive approach of client reminders and meeting deadlines for submitting the payroll etc. Our qulified experienced payroll advisors will also support you to deal with penalties or in the online PAYE appeal process.
Company Formation and Startup
Choosing the right legal structure and registering the company can be tricky.
Our professional accountants can advise you and form a limited company for you. Please click here for our detailed services.
Accurate calculations and tax planning for Payroll services can bring a significant positive impact on your business cash flow. Our team of professional accountants proudly provide excellent payroll services and free up your time of extensive reporting to HMRC.
Accounting and Bookkeeping
Depending on the size and nature of the business, our experts recommend the right software to you.
We usually use Quick books, Xero and Freeagent as our bookkeeping software(cloud-based system).
Our qualified specialist tax advisors provide their advice and services considering personal and individual circumstances when it comes to self-assessment.
We support our clients by minimizing their tax liability wherever possible in personal tax return calculation.
We offer to produce management accounts on a monthly or quarterly basis. Which means you will get to review your key performance indicators KPIs more regularly. Your dedicated account manager will also be able to talk you through the numbers.
Registered Office Address
This is a legal requirement for all companies to make their registered address publicly available.
Companies regularly receive their most important correspondence such as companies house letters, HMRC notifications and letters etc.
We specialize in providing VAT (Value Added Tax) services for small to medium-size businesses through Making Tax Digital (MTD) compliance. Our qualified team of accountants help businesses submitting their VAT returns under the standard rate, flat rate, MOSS, Marginal and other schemes.
Tax investigation letter may seem very straight forward in the first instance from HMRC, but it can bring further complications and surprises if not adequately handled. Our Tax investigation experts will provide you with specialist advice and take all the burden of dealing with HMRC inspectors.
What do our customer say about us
Why choose us
Our professional qualified team is registered with Institute of Chartered Accountants in England and Wales , Association of Taxation Technicians and Association of chartered Certified Accountants .
No two businesses are alike; therefore, we ensure that we tailor and customise our approach to suite your business accounting and tax advisory requirements.
You need a dedicated accountants to answer any accounting or tax related questions or even tax planning questions to avoid any costly mistakes.
Our team of professional accountants will be there for you via phone or emails.
We are partnered with famous accounting softwares QBs and Xero and others. this means more transparency and accuracy in accounts.
Unlike many other accounting firms, we offer fixed term prices to our clients in line with their accounting needs.
You will be provided full access to your accounts on completion of work. Our friendly team of accountants will always be available to answer your queries.
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