Information provided by Kidwells Accountancy on our website is for informational purposes only. For bespoke advice, call 01432 278 179 or email info@kidwellsaccountancy.co.uk to learn more about what is best for your business.
National Payroll Week was established by the CIPP in 1998 to raise awareness of payroll in the UK.
What is Payroll?
Payroll is a core part of the business generating different forms of data. Payroll data can be used to analyse and guide business strategy, as well as for reporting and making payments to HR Revenue and Customs (HMRC).
Payroll data is essential information which can create more value for your company than many business leaders appreciate. With effective analysis, payroll data can improve recruitment and retention policies and help set and monitor fair pay and promotion targets across a diverse workforce
How does Payroll help the country?
The last 18 months have brought challenges to businesses with the impact of the covid pandemic but based on government statistics, payments of tax, national insurance, and capital gains tax combined accounted for 56% of the total annual receipts for HMRC.
How does Payroll help employees?
Payroll professionals can benefit businesses in decisions relating to rewards and remuneration. Through payroll, employees can save money with salary sacrifice and other arrangements improving employee motivation and morale.
With auto-enrolment on to workplace pensions, employees gain through tax savings and employer contributions towards their retirement.
How can we help?
Keeping on top of payroll, whatever the size of your business is time-consuming. Legislation governing employee stoppages of tax, National Insurance Contributions and auto-enrolment pensions change regularly, as do the rules relating to the National Minimum and Living Wage.
When administering payroll, changes to legislation must be considered. Substantial penalties can be given if errors are made regarding the National Minimum Wage (NMW), National Living Wage (NLW) or making the correct level of contributions to workplace pensions.
It is essential to get payroll correct Whatever the size of your workforce, we can deal with all the processes involved in payroll, while you get on with running your business.
Call the team on 01432 278179 or email us at info@kidwellsaccountancy.co.uk for advice and see how we can help.
Contact Us
Disclaimer: Information provided by Kidwells Accountancy on our website is for informational purposes only. It is provided in good faith but we make no guarantee of any kind regarding the accuracy, reliability, or completeness of any information on our site. We always recommend businesses seek independent legal and financial advice before working with us or acting on any information on our website.