Payroll and P11Ds | Reach Accounting Solutions

Telephone 01538 711 000 Email freedom@reachadvice.co.uk

Payroll

Our payroll bureau can look after all of your payroll needs.  The processing of payroll for your own business, can be a laborious task as you need to keep up to date with changing legislation and every time you have a new starter or someone goes on maternity leave, etc it feels like the first time you’ve handled it.  It can therefore be more cost effective than you think to outsource your payroll processing to our experienced team, so please give us a call.

We offer you the opportunity to provide your team with access to a secure online portal through Xero, which they can use to view their payslips.  Employees therefore have the information they need on hand anytime they need it and the task of distributing paper payslips is removed.  The portal can also be used to track annual leave for your team, as they are able to login and request leave and see the number of days they have remaining.

We are happy to provide payroll services as a standalone service, if you don’t wish to change accountants at this time, but this is a service that your current advisor doesn’t offer.

 

P11Ds and Benefits in Kind

Our payroll bureau can also prepare P11Ds to report the benefits in kind that your business has provided e.g. company cars, private medical insurance, etc.  As well as reporting the benefits provided, we can forecast what the future tax and NIC cost of the benefits will be in coming years due to planned changes in legislation and suggest options which may lower the tax and NIC cost.  Having access to such information will help you to decide whether you consider the benefits to still be desirable and make any changes you see fit.

We can prepare P11Ds for your business, even if you prepare the payroll in house as this is a distinct standalone task.

  • Could you reduce your upcoming 31st July payment on account?/ 15th May

    If you can answer yes to any of the following questions, then you may well be able to reduce your upcoming payment on account. If you are self employed (without a limited company), during your last financial year: Have you noticed that sales have dropped? Did you invest in new equipment? Did your stock levels increase noticeably? Did you incur significant additional costs e.g. rebranding/new website/repairs? If you are a company director, in year ended 5th April 2018: Did your dividends drop for any reason? Did you increase your pension contributions? Did you make any significant gift aid donations?

  • Extension of the Childcare Voucher Scheme/ 20th March

    Would you like help with childcare costs? Well, the Childcare Voucher scheme which was planned to close to new entrants from 6th April, has now been extended to be available to new applicants for a further 6 months. Therefore, there is still plenty of time for YOU AND YOUR EMPLOYEES TO BENEFIT. Directors, remember that you can use the Childcare Voucher scheme yourself as employees. Childcare Vouchers can be used to cover the cost of qualifying after school clubs, etc not just nursery fees as you might expect. Your business could save up to £403 in National Insurance per employee and the employee could save up to £933 in tax and National Insurance.

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