Employees Payroll (PAYE for Employee)
PAYE: Pay As You Earn, is a way for employees to deduct their taxes. PAYE for Employees is a system that ensures that both employers and employees pay their taxes correctly. This system involves the employer deducting income tax and other required deductions directly from employees' salaries before paying them. These deductions are then remitted to tax authorities on behalf of employees.
Note: PAYE for employees must be paid immediately and punctually to HM Revenue and Customs (HMRC). If you want to pay monthly, your payment will be due on the 22nd of the following tax month. For quarterly payments, it is due on the 22nd after the end of the quarter. For example, if the quarter ends on July 5th, then the payment is expected on July 22nd. Furthermore, if you want to pay by cheque through the mail, it is necessary that it reaches HMRC by the 19th of the month. Paying your PAYE bills on time can save you from penalties and interest charges. Let Affotax help you – get a quote now!
Elite "Employee Payroll" Package
Our Basic Package covers the essentials for smooth director payroll processing, ensuring accurate calculations and compliance. this service cost £15 per employee per month.
Package includes:
- Calculation of director's salary, benefits, and allowances
- Tax and National Insurance deduction calculations
- Preparation and issuance of annual pay slips
- RTI/FPS monthly submission to HMRC
Benefits of our PAYE employee service:
Affotax can help you by providing you the best PAYE employee services, so you can manage your Employees Payroll easily. Why wait? Get a quote now! 🚀💼
FAQs:
1. What is PAYE?
PAYE is an acronym for Pay As You Earn, which is a method by which employers are required to deduct income tax and National Insurance contributions from the wages of their employees. It is their responsibility to pay them to the tax authorities.
2. Why is accurate employee payroll management important for employers and employees?
The proper management of PAYE ensures that employees pay the right amount of tax and National Insurance contributions and receive transparent pay statements as well as comply with the law. Employers benefit from easy payroll management, avoiding penalties for non-compliance and non-payment of taxes.
3. What is included in the basic PAYE Management Package?
Our basic package includes:
- Calculation of a director's salary, benefits, and allowances
- Tax and National Insurance deduction calculations
- Preparation and issuance of annual payslips
- RTI/FPS monthly submission to HMRC
4. Is the payroll number the same as the employee number?
Yes, the payroll number is the same as the employee number. Which is used to identify the employee and submit the RTI/FPS submission to HMRC.
5. Do I need a payroll company for one employee?
No, a payroll company is not required for one employee. You are responsible for payroll submissions. If you are unclear about the proper procedures, contact us!
6. Do employees have PAYE references?
Yes, employees have PAYE references. This reference helps in identifying an employee and calculating the right amount of tax to be deducted from their salary. PAYE reference also helps in identifying the employee's National Insurance contributions.
7. Can I customise your PAYE employee package further?
Yes, we collaborate with you to design a solution that precisely meets your needs as part of our package. You can always customise our payroll services based on your needs.
8. Why is timely and accurate payroll management important?
Payroll processing must be done accurately and on time to ensure correct taxation, compliance, and avoid penalties.
9. How do I get started with your Employees Payroll (PAYE) services?
It is very easy to get started with our PAYE management service. Choose the package that suits your needs, follow the instructions to purchase, and our team will guide you through the whole process.
Please contact us if you have any questions about our Employees Payroll (PAYE) services. Don't miss out on the cheapest PAYE for employee service – get a quote now!
