PAYE & NI
It’s unfortunate, but like it or not, as a business manager you are the Treasury’s unpaid tax collector. Not only do they not pay you to perform this vital role in the economy, but if you get it wrong they will penalise you!
The penalties which can be charged for failing to properly apply the PAYE and NIC regulations are amongst the most stringent on the tax statute book. Failure to comply can ruin a business, and as always, ignorance of the law is no defence.
Castlemaine Associates offers a complete and cost-effective service for payroll. We will make all the calculations, complete all necessary forms and advise you of what to pay and when. We will also deal with the PAYE Inspector as required.
We can release your time and ensure the quality of wages processing and administration, and importantly, we will also ensure that you pay no more PAYE/NIC tax than you absolutely have to.
Our services in this area cover:
- Calculation of net pay
- Supply security payslips and advise on how much PAYE and NIC to pay the Inland Revenue
- Advising you of the legal requirements for offering stakeholder pensions to your employees
- Preparing forms P45 when an employee leaves
- Preparation of year returns P35 and P60/P14’s, and filing with the Inland Revenue in advance of the statutory deadlines
- Electronic payment of employees salaries if required
- Performing PAYE/NIC reviews prior to a control visit
- Preparing forms P11d and calculating class 1a NIC liability
- Advising you in relation to the payroll implications of IR35
- Tax efficient remuneration planning