Adding a new member of staff to your small business is an exciting prospect but where do you begin with running a payroll scheme for the first time?
Our new guide to starting a payroll scheme will help you set off on the right track, covering everything from what info you need from your new employee to what you need to do before payday itself.
What do you need to know when starting a payroll scheme?
As well as the obvious task of paying your staff on time, our guide to starting a payroll scheme will guide you through the things you need to do to ensure you are running a compliant scheme, including:-
- Registering with HMRC as an employer and when to do this
- How to send reports to HMRC
- Running a payroll scheme in HMRC approved software
- Deductions such as student loans
- How you handle taxable benefits
- GDPR and record keeping
- New starter information
- Registering your new employee
- Paying HMRC
So if you are looking for guidance on how to begin payroll for your SME, check out our guide below.
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Our friendly team of experts have helped all sizes of businesses in multiple sectors plan for their future growth, from tax planning and company structure to funding and accounts. If you have any questions, why not give us a call on 01244 400315 or email [email protected] and we can help you with any further information you need.