Payroll and Employee Returns
Every business that pays an employee must run a payroll and produce monthly returns for the Inland Revenue. The Woolford & Co. payroll service will calculate net pay, tax and national insurance and deal with the monthly and annual returns to HM Revenue & Customs.
Woolford & Co. has gained a SAS70 Certification for its payroll services.
In addition to returns for salary, there are also annual returns relating to the benefits paid to employees and these returns (P11D) must be completed for every director and higher paid employee (those paid over £8,500 per annum!).
These returns are relatively complex and without detailed knowledge of the legislation they can easily be completed incorrectly. The Woolford & Co. payroll service removes the burden for the employer of completing these returns.
