Payroll Services

Hassle-Free Payroll Management
From Smart Accountants

Payroll is a crucial part of any business with multiple employees. The Smart payroll service offers a range of functions and responsibilities that we manage related to employees’ payment calculation, statutory deductions, salary disbursal, HM Revenue & Customs (HMRC) dealings, taxations, record keeping, and regulatory compliances. These tasks, though routine, require precision and time, hence many companies outsource these responsibilities to us.

Smart Payroll

Payroll Services

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A Payroll Service Ready For Business

At a basic level, our payroll services involve calculating an employee’s gross wage. We include the calculation of the hourly wage or salary, overtime pay, bonuses, and commissions if any. We then calculate the amount due to each employee for the pay period, keeping in mind the stipulated hours worked, sick days, and holidays.
Statutory deductions such as tax, national insurance contributions, and pensions, are also managed by us as part of a full payroll service. As UK accountants, we apply the most current legislations, guidelines, and rates to calculate and make these deductions. It is a complex process that requires thorough knowledge of employment law and taxation policies, both of which are always changing. It includes keeping track of each employee’s tax codes and varying levels of national insurance deductions. We ensure that the correct deductions are made from the payroll and are then correctly remitted to the HMRC within deadlines.

Real Time Information (RTI) submission is a key aspect of payroll services. It involves reporting wage and deductions details of employees to HMRC each time an employee is paid, whether monthly, weekly or even daily. It needs to be accurate, compliant with current legislations and done on time. Accountants ensure error-free, prompt RTI submissions, saving businesses from potential penalties.

We also carry out all pension-related responsibilities of a business, which includes monitoring age and earnings of the employees, maintaining pension records, enrolments, pension scheme setup and administration, communications with pension providers and staff, calculating contributions, deductions and payments, etc.

Compliance with all laws, legislations, and guidelines related to employee pay is at the core of our payroll services. We continuously monitor, interpret, and apply changing payroll legislations and provide assistance with regulatory inspections or audits related to payroll.