Payroll Management

Work Approach – Payroll Management

Our payroll management approach focuses on early preparation and a continuous understanding of the specific payroll needs of each organization. This allows us to identify key payroll components, provide clear expectations to our clients’ staff regarding their roles, and customize our procedures to suit their unique payroll environment. Below is a brief overview of the key phases of our Payroll management approach:

Compensation Structure

❑ Review of Compensation Structure which This includes ensuring compliance with National Insurance, PAYE, and pension requirements.

❑ Development of Tax-Efficient Compensation Options while ensuring full
compliance with UK tax laws, such as the Employment Income Manual(EIM) and related statutory frameworks.

❑ Critical Analysis of Compensation Options.

Initial Payroll Setup

❑ Collection of Employee Compensation Data ensuring full compliance with UK
payroll requirements (e.g., PAYE, National Insurance, and pension schemes).

❑ Customization of Payroll Processing System to meet client’s specific needs and configuring the system to account for UK-specific factors like tax allowances, student loan deductions, and automatic enrolment for pensions.

❑ Data Entry and Input to ensure accurate payroll calculations, timely
submissions to HMRC, and compliance with all legal requirements.

Monthly Payroll

❑ Collection of Salary Changes to employees’ salaries from the client by each month, including adjustments such as promotions, bonuses, overtime, or deductions.

❑ Payroll Software Update and modifications, including tax codes, benefits, and deductions, are accurately recorded in accordance with UK payroll regulations.

❑ Payroll Processing as required under UK law.

❑ Communication of Payroll Liabilities.

Annual Payroll

❑ Issuance of P60 Forms to Employees which summarizes each employee’s total earnings, taxes paid, and any benefits received over the year, in compliance with HMRC’s requirements.

❑ Submission of Year-End Returns to HMRC.

❑ Distribution of Employee Tax Documents.

❑ Issuance of e-TCC Forms (Tax Credit Certificates).

❑ Verification and Submission of Forms to HMRC.