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Haines Watts Exeter Phone icon 01392 260310

Running a business can feel like a battle with red tape and form filling sometimes, and this is particularly true of dealing with the company payroll. Over the last few years the extra responsibilities laid at the door of the payroll manager (or business owner who has tried to deal with it themselves to save on costs) have grown and become more onerous.

For many businesses that were obliged to set up pension schemes with the introduction of auto enrolment the time has come to now deal with re-enrolment and re-declarations, which are required every 3 years. For staff that opted out 3 years ago the employer now has the fun of possibly having to put those staff back into the pension scheme (depending on the staff member’s age and remuneration) with the onus on the staff to then opt out again should they want to.

The P11d season should now be complete with the relevant forms detailing the benefits in kind given to employees reported to HMRC and the associated Class 1A NIC paid. Employers may prefer to move over to a system of payrolling benefits so that this is dealt with throughout the year rather than having this thankless task each June/July. 

And then there is CIS which applies to businesses operating in the construction industry. Having to verify subcontractors and ensure the correct amount of tax is deducted from any labour payments paid, and then remit the correct amount and relevant forms to HMRC to account for these tax deductions can take up valuable time which may be better spent actually earning money for the business. From October 2019 there are changes in the Vat rules relating to those falling within CIS, which will only add to the complexities.  

Perhaps it is time to consider outsourcing the whole payroll and CIS responsibilities to us? We have dedicated, well trained payroll staff who deal with these issues day in, day out. We act for clients just dealing with the payroll function and not necessarily assisting with the business accounts (although we would love to be able to do that too, obviously!). Let us give you a quote to take on this role for you, so that you can get on with earning money…or perhaps even have a holiday? We can use a third party to pay the net amounts due to the employees and PAYE/NIC/CIS due to HMRC electronically from your bank account once you have approved the payroll (again electronically via our online portal), so you can deal with the wages from the beach if you like…

If you would like further information about Payroll and or the services we offer please get in touch with one of our specialists.

Want to know more? Call us on 01392 260310 or email exeter@hwca.com

About the author

Sally Reed

Sally qualified as a Chartered Accountant in 1991. She graduated from the London School of Economics in 1985, and spent some time working in London and Launceston before deciding to study for the Chartered Accountant qualification, and trained with Nevill Hovey & Co, in Launceston. After having two children, in 1995 and 1999, Sally decided to set up her own business, which originated as a bookkeeping service, but between 1999 and 2017 grew to a general accountancy practice with 8 other staff, and two offices, one in Westgate Street in Launceston, and another in Okehampton.

Sally decided in 2017 to merge her business, Sally Reed Ltd, with Haines Watts South West LLP, in order to be able to better serve her clients going forward. Whilst Sally’s business had grown since it started, so had that of her clients and this, coupled with the expected changes in the accountancy profession in the next few years, meant that the access to specialists available from within the Haines Watts group, but with the emphasis still on providing a local service, seemed like a natural progression. Rather nicely, Haines Watts had taken over the business of Nevill Hovey & Co some 12 months earlier, and so Sally is now also working alongside staff and with clients she worked with 20 years ago!

Sally particularly enjoys spending time with clients, learning about their businesses, and getting involved. In particular Sally likes to use modern technology as much as possible to facilitate repetitive tasks, allowing Sally to look with her clients towards the future of their business, their aims and fears, and using her experience to assist business owners however possible.

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