When employing someone for the first time, you must register as an employer to inform HMRC that your employee has started working for you. You now have a responsibility to calculate the PAYE Tax and National Insurance contributions (NIC) of your employee, and then withhold this from their pay and submit this to HMRC on their behalf. You are also responsible to pay an additional employer’s NIC. Tax and National Insurance is usually calculated on a monthly basis and paid monthly/quarterly to HMRC.
It is important to make sure figures are calculated correctly, so that you make the correct payments. By not calculating the PAYE Tax and NIC correctly, you may pay more than you have to. If you pay HMRC less than what is due, you will need to pay the correct withheld amount with interest and other penalties.
We offer tailored packages that suit most companies and fix our fees every month so that your business never has to face any nasty surprises. The only thing you have to worry about is sending us all of the pertinent information on time; our trained experts will take care of the rest.