PAYE

Administering a PAYE scheme is time consuming at best and depending on factors such as the number and type of staff it can be quite complex.

Operating a PAYE scheme involves the completion of many forms and returns. Late submission of or incorrect completion of these returns may have consequences in the form of financial penalties and interest.

Areas such as Statutory Maternity Pay and Statutory Sick Pay need a good understanding of the PAYE system. These are areas where a business may suffer financial loss by overpaying or under claiming.

The most common forms and returns that need to be completed are as follows:

• P45. Employee leaving.
• P46. New employee.
• P35. Annual return.
• P60. Certificate of employee's earnings at end of tax year.
• P9D & P11D. Benefits in Kind.

Our consultants can assist you in every step of the process from calculating your monthly PAYE liability to completion of the year-end returns.

As with any legal requirement PAYE will not go away if you ignore it, it will only get worse.

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