Contracting Company Payroll Advice
Running a company payroll for all of your employees can be time consuming, so that’s why our portal does this for you.
Each month, a fully detailed payslip is produced, based on agreed figures.
We can either start with a gross amount and deduct PAYE from that, or if you prefer to have say £1000 each month after taxes, then we can set that up – you can even vary the amount each month if you need to.
Our payroll systems handle all statutory payments types like sick pay, maternity pay, student loans etc, and is HMRC accredited to ensure accuracy at all times.
Making PAYE Payments
The PAYE amounts detailed on the company payslips are paid to HMRC quarterly (or monthly if the total gross exceeds £1500).
The PAYE amount to be paid is shown on our system and a reminder email will be sent in advance. AccountsNet complete the HMRC online return on your behalf.
Each time we run a payroll for your company, we submit a Real Time information message to HMRC. This makes it easier for HMRC to ensure deductions for tax, National Insurance and student loans are correct
Year End Returns
At the end of each tax year, AccountsNet file annual returns for your company, and for each employee, a P60 and P11d is produced. These documents are stored and available as a permanent document on your online portal.
The above is an overview of the payroll system included in all of our Contractor Services