MJ News - 21/03/05

Payroll Year End

The current payroll year ends on 5th April 2005 (approx 3 weeks). To avoid any problems with preparing your payroll end of year returns, it is important to start planning ahead now.

If you have not already done so, you will need to obtain this year's P14's and P60 stationery. You can obtain the correct forms from the Inland Revenue orderline.

If you have fewer than 50 employees you also need to decide if you are going to take advantage of the incentive payments available for filing your end of year returns online. The incentive payments available add up to £825 over the next five years, as set out below

To claim these incentives you must either authorise your agent to file online for you, or you must register for PAYE online on the Inland Revenue PAYE for employers registration page.

Other Considerations

Now is also the perfect time to review your current payroll arrangements.

• Is running the payroll using too much valuable time and resources?
• Are you happy dealing with SSP, SMP, Student Loans and Working Tax Credits?

Your main concern should be running your business, not the paperwork that goes with it.

Payroll is an ideal function to outsource; it is a non-core activity that can be easily seperated from other areas of the business.

Why not let us take the payroll off your hands?

We're good and we're not expensive. Maidment Judd's Payroll Service will remove the stress and burden of running your payroll for as little as £15 per month.

Included in our fixed charges:

• Payroll preparation including maintenance of the deductions working sheet (P11's) and provision of payslips for employees and the Revenue;
• calculation of statutory maternity pay, statutory sick pay and working tax credit;
• completion of the Annual Returns P35, P14 and P60;
• the issue of P45s to employees leaving;
• assisting with completion of P46s to obtain PAYE Coding Numbers for employees;
• paying tax credits.

Additional / Optional Services:

• instruct your bank directly to make the payments into your employees' bank accounts;
• obtain and administer tax credit funding;
• complete the annual benefit-in-kind returns (P11Ds, P11D(B)s and P9Ds);
• advise on employer PAYE compliance including the tax and NI implications of employee benefits generally;
• advise on IR35 issues.

Contact us to obtain a free no obligation payroll quotation.

We hope that you find MJ News useful and beneficial in helping you run your business and looking after your tax affairs. If you have any suggestions on how we can improve MJ News or any of the other services we provide please do not hesitate to contact us.

If you would like other team members within your firm to receive this e-mail then please fill in the simple Sign up form and we will add them to our mailing list.

Please feel free to e-mail this message to any friends or work colleagues, and they can add themselves to our mailing list by following the instructions above.

You have received this email because either your email address is included in our list of contacts, or someone has signed you up to receive MJ News because they thought you would find it useful. If you would like to be removed from our mailing list please contact us and write "Remove from mailing" in the subject box.

Top  

© Copyright Maidment Judd 2004 - 2006. All rights reserved. This information has been produced for general interest. It is therefore essential to take advice on specific issues. We are unable to take responsibility for any outcome resulting from acting upon, or refraining to act upon, this information.