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Payroll and Auto-enrolment

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Payroll and Auto-enrolment

Operating payroll

You need to complete certain monthly tasks as an employer operating PAYE. Tax months run from 6th of one month to 5th of the following month.

Every time you pay your employees you’ll need to:

  • Record their pay
  • Calculate their deductions like tax and national insurance
  • Calculate your employers national insurance contributions
  • Produce payslips for each employee
  • Report their pay and deductions to HMRC in a Full Payment Submission (FPS)

In the next tax month, you’ll need to:

  • Claim any reduction on what you owe HMRC (such as employers allowance) by sending an Employer Payment Summary (EPS) by the 19th
  • View the balance of what you owe on your HMRC online account
  • Pay HMRC by the 22nd

If you usually pay less than £1,500 per month, you may be able to pay quarterly instead of monthly.

Auto-enrolment

Every employer in the UK must put specific staff into a workplace pension scheme and contribute towards it.

Here are the key features of auto-enrolment:

  • As an employer, you are required by law to enrol most employees in a workplace pension scheme and contribute at least 3% into their pension pot
  • Employees contribute a minimum of 5%
  • Auto enrolment applies unless your employees are under 22 years old, earn less than £10,000, work outside the UK or have a suitable existing pension scheme
  • If your employees earn between £6,240 and £10,000, they can ask you to enrol you into your pension scheme
  • Auto enrolment rules still apply to part-time employees
  • Your employees can choose to opt out of your pension scheme

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We’re so confident you’ll love our service. However, if you’re not completely satisfied within the first 6 months, we’ll refund your fees.

Optics Accounting Abingdon

Understanding and improving your numbers

  • Abingdon, Oxfordshire, United Kingdom
  • hello@opticsaccounting.co.uk
  • 01235 423810

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