Make pay day less stressful
If you’ve made the decision to run your business as a limited company, you might then go on to recruit employees. However, you could remain the only individual within that business. Did you know though that even if you are the only person within a limited company, you could still become an employee of that business? This could be a way to save tax and, here at Lewis & Co, we can assist you with that.
If you do become an employee within your business – or indeed take on future employees – then you will need to set up a payroll process. If you haven’t done this before, it can be complicated and time consuming, as there are many aspects to consider, including creating payslips, communicating with HMRC, dealing with student loans and making sure you have workplace pensions in place.
At Lewis & Co we can streamline your payroll process and help minimise your PAYE liability. Our experienced payroll team can administer PAYE, employee and employer National Insurance (NI) contributions, statutory sick pay, maternity pay, childcare vouchers and student loan deductions on your behalf.
In addition to calculating your payroll, we can also complete forms required by HMRC on your behalf including P11D, P45 and the end of year P60 and P35.
In addition to the compliance and practical issues of getting payroll processed properly, it is also something which is important to get right from an HR point of view. Today, many businesses are finding it hard to recruit good people and if you have a reputation for perhaps not paying staff on time or being in any way unreliable in this respect, then word soon spreads.
Even if you embark on payroll with the best intentions yourself, you could become overwhelmed by the process or just too busy running your business. It doesn’t take much for your employees to lose their trust in you if you get something wrong.
It’s also worth bearing in mind that dealing with payroll involves dealing with sensitive information and it’s key to get that right, in addition to being compliant and abiding by all the payroll legislation and regulations.
Your team is what makes your business and, if you get your payroll process right, then they are likely to be more engaged and your staff turnover will reduce. Here at Lewis & Co, we can take all that stress away by running your payroll for you.
It’s worth bearing in mind that for some clients we just do their payroll. So, if you’ve already got an accountant in place who doesn’t offer payroll or you’d rather keep your accountants and payroll processes separate, we can do payroll for you as a standalone offering.
To find out more about our payroll services contact us on tel: 01892 513515 or email: info@lewisandco.biz