Payroll
Rice & Co partner, Kevin Preece, explains the company’s payroll services and PAYE
“The owner of any small business will tell you that life is simple until the day when you take on your first employee – then you really understand what red-tape means!
Your job description stretches to include unpaid tax collection, and you can face a fine for accidently getting it wrong – even for sending forms in late.
Which is why it is so important to get professional help with this aspect of your business.
The Inland Revenue provides each employer with comprehensive manuals, flowcharts, forms and advice on the subject, but the problem is finding the time – and enthusiasm – to wade through it all, just to be able to pay your weekly wage bill.
Rice & Co. will be more than pleased to help. We can:
- Process payroll
- Deal with the Inland Revenue
- Complete all year end returns
- Make pension scheme adjustments
- Deal with bonus, commission and other additional pay schemes
- Calculate maternity and statutory sick pay
- Complete forms P35, P11d, P45, P60, P14 and all other forms required to run your payroll
Get on with the business of running your company, and have the peace of mind that the professionals are making sure the payroll is calculated properly, and that your business complies with the law.”
Like it or not, as a business manager you are the Treasury's unpaid tax collector. Not only do they not pay you to perform this vital roll in the economy, but if you get it wrong they will penalise you!
The penalties which can be charged for failing to properly apply the PAYE and NIC regulations are amongst the most stringent on the tax statute book. Failure to comply can ruin a business, and as always, ignorance of the law is no defence.
So it is well-worth seeking advice from the professionals. At Rice & Co, we offer a complete and cost-effective service - we can make all the calculations, complete all the forms and tell you how much to pay and when.
We will even deal with the PAYE Inspector and the DSS Inspector if required.”