Payroll is a sum of all the financial details of each employee in a company. Those details can refer to the amount of salary, the bonuses provided, deductions in payments and other financial details including loans provided and debts paid. However in accounting, payroll refers to a more defined amount. It refers to the amount of money which each individual gets as a result of the services provided for a specific time period. This aspect is necessary for each company to administer. It has certain benefits and if not applied then the business can face serious consequences.

PAYE Registration

It is important to check if there is a need to operate the PAYE Registration before paying an employee for the first time. We are here to provide consultation for this.

Following are the conditions in which applying PAYE scheme can prove to be beneficial:

Monthly Payroll Processing

Silver Arc also provides a weekly / bi-weekly / fortnightly /monthly payroll processing through which the payroll can be processed as required. Payroll can be a difficult task and should be done timely, which is often a problem for the employer. As an employer, you must be having other important issues to manage. Therefore, our company saves you from the trouble of handling all the data, complying with legislations and managing RTI’s. Our services are both flexible and timely provided in order to help your business stay stable and grow at a massive scale.

  • Monthly / weekly payslips
  • Payroll summary report
  • P32 PAYE Liability report
  • Net wages Report
  • Dealing with starters and leavers
  • Monthly / weekly emails with PAYE calculation
  • Help and advice on statutory maternity pay, statutory paternity pay, statutory sick pay and occupational pension scheme
  • P60s (person’s end of year earnings and tax summary)
  • P45 (employee’s leaving form)
  • P35 (employer annual return)
  • P11D (Benefit in kind)
  • Filing of monthly Construction Industry Scheme returns (CIS)
  • Filing of RTI (Real Time Information) PAYE returns to HM Revenue & Customs

PAYE De-registration

As must as the PAYE registration is important, its de-registration is equally important. Having an all-blooming business sounds like a good idea, however knowing what to do while it is reaching its end is also important. Not submitting the RTI can leave you as a victim of a penalty from HMRC and therefore, it is important to stay vigilant, de-register as required and submit final RTIs.