In a business, payroll is the sum of all financial records of salaries, bonuses and deductions for an employee. In accounting, payroll is the amount paid to employees for services they provided during a certain period of time.
From a business perspective, payroll is a key area as employees are reactive to payroll errors and issues. Employee morale is dependent on payroll being paid in a timely and accurate fashion. From an accounting perspective, payroll is critical because payroll and payroll taxes affect net income and are subject to strict laws and regulations.
Preparing your own payroll can be time consuming and daunting, especially when faced with having to get to know all new employment and taxation rules. We don’t want our clients worrying about whether returns have been completed correctly or that penalties may have been incurred which is why we offer a comprehensive payroll service.
We can process weekly, four-weekly, or monthly taking care of all the HMRC filing and returns. We will ensure you are fully compliant with all the year-end payroll deadlines and are on hand whenever you need us for employer or employee queries.
For contractors, the Construction Industry Scheme can be a minefield with complicated rules on when you should and shouldn’t deduct CIS tax. We offer help and advice to our clients on when you should apply CIS tax to payments and can process your monthly CIS returns providing deduction certificates for your sub-contractors.
Here at Edmonds Accountancy Ltd we ensure you receive a first rate hassle free service to keep your employees happy and your business running smoothly.
If you have any questions or would like any further information about Edmonds Accountancy please feel free to contact us: