Straightforward Payroll Management
Simplify your Payroll with Simon & Co
Welcome to a world where payroll management becomes straightforward and stress-free with Simon & Co. Managing payroll, particularly after onboarding your first employee, can introduce you to a myriad of challenges and administrative duties.
Our dedicated team is here to remove these burdens, ensuring your business adheres to all obligations related to payroll, PAYE, and auto-enrolment without hassle. From handling tax collection to managing financial advisories, we shield you from the complexities, allowing you to focus solely on growing your business. Our custom services are designed to protect your business from payroll challenges and compliance issues.
Tailored Payroll solutions for your business needs
Comprehensive Payroll Services
- Employee Payslips – Timely and accurate processing and distribution.
- Monthly Summaries – Clear, concise monthly payroll summaries.
- Handling Leavers and Starters – Efficient management of employee turnover.
- Staff Cost Analysis – Detailed reports to understand your payroll expenses.
- RTI PAYE Returns – Ensuring compliance with Real Time Information for PAYE.
- Automated Payment Setup – Streamlining payments to your employees.
- CIS Returns – Accurate and timely CIS returns.
Year-End and Compliance Services
- Employee Summary P60’s – Providing annual summary of pay and deductions.
- P11D and P9D Returns – Managing benefit and expenses returns effectively.
- Statutory Pay Calculations – Accurate calculations for sick, maternity, and paternity pay.
- Student Loan Deductions – Managing deductions and ensuring compliance.
- Auto Enrolment Management – Handling pension schemes and employee communication.
Proactive Management of Auto Enrolment and PAYE
At Simon & Co, we actively manage Auto Enrolment and PAYE, ensuring steadfast financial security for your business and its employees. Beyond payroll, we establish and manage pension schemes, facilitating smooth auto-enrolment and handling monthly submissions to pension providers, while maintaining transparent communication with your team regarding their options.
In the area of PAYE, we ensure accurate, timely submissions, safeguarding your business from compliance issues. Our expert advice also encompasses various employment tax areas, including crafting tax-efficient remuneration strategies and intelligent retirement planning. Choose Simon & Co for a partnership that actively supports the financial well-being of your business and team.
Frequently Asked Questions
Explore our frequently asked questions to find valuable information on various business topics. Get the answers you need to make informed decisions about your business.
Auto-enrolment, a government initiative, mandates all employers to automatically enroll eligible staff into a pension scheme and contribute towards it. Employers must contribute a minimum of 3% of qualifying earnings, while employees, if they opt in, contribute 5%, totaling a potential 8% monthly contribution. Both employers and employees can choose to contribute more than the minimum required. The government may also top up employee contributions with tax relief.
PAYE, or Pay As You Earn, is HMRC’s method for collecting Income Tax and National Insurance Contributions (NICs) directly from employees’ wages. As an employer, it’s your duty to deduct these amounts from your employees’ salaries for each pay cycle and remit them to the government.
For limited companies, it’s essential to run payroll for everyone, including directors, as they’re viewed as employees of the firm. In contrast, sole traders or partnerships don’t need to manage payroll for themselves. However, if they have hired staff, payroll becomes necessary. It’s worth noting that anyone holding an employment contract, regardless of the business structure, is generally classified as an employee and thus requires payroll processing.