Payroll Processing For My Small Business

I have recently secured some large contracts for my business and need to take on some additional employees. I will not have time to calculate the weekly wages and tax deductions for my staff and I would like to get some help with this. I understand that there are bureaus that will do this for me. What sort of information will they need?

1st September 2009

There are indeed bureaus that will manage your payroll as indeed can your local TaxAssist Accountant, and it may be worth getting quotes for carrying out this work before you proceed. You may be pleasantly surprised how cost effective they are!

Whichever route you choose, you will need to supply the full name, address, gender, tax code, date of birth, national insurance number, national insurance letter, gross pay to date, tax paid to date and the totals from columns 1a to 1e on the form P11 that you must be using currently for each of your employees.

The bureau or accountant you choose should send you a pro forma to use, ideally two or three weeks before you need to commence - and can supply it in good time for the payroll to be processed without disrupting expected pay dates.

For the 2009-10 tax year, it is a mandatory requirement for employers with less than 50 employees to file their end of year forms online, so it is important that you either use a bureau to process your payroll, or register with the HMRC to prepare for the filing of these forms next April.

By Jo Nockels

Disclaimer: The information provided is based on current guidance (at date of publication) from HMRC and may be subject to change. Any advice shared here is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this information, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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