Payroll for STARTUPS And New Employers
In recent years, there has been an increase in people looking to start their own businesses, often with a desire to have more independence and control over their lives as well as a better work life balance.
Some of these businesses may require staff from the outset, for example those in the service sector, whilst other start ups will grow to a certain size where the solo entrepreneur can no longer do everything in the business effectively, which is where they may need to consider employing staff for the first time. Either way, for many startups looking for staff or those seeking to hire employees for the first time, the assistance that will be required will be similar.
As a first-time employer, we’ll give you as much or as little help you need. After discussing your business so that we can get to know you, we’ll send our Letter of Engagement and GDPR Data Processor Agreement to you. This lays out what we’ll do for you and when, and you’ll know what you’ll need to do to make sure your payroll runs smoothly.
We’ll also agree a plan to enable your payroll to be set up in the easiest way possible, and agree some dates for things to be done by so you’ll know exactly when things will be completed.
We can take care of registering your business as an employer with HMRC, and we’ll discuss Auto Enrolment Workplace Pension requirements and help you choose a scheme that will fit with your business. We can offer help and support with things like National Minimum Wage and Holiday Monitoring so you’re fully prepared and protected. We’ll also make sure that you have a clear idea of the cost of things like Employers National Insurance and Pension Contributions, so that there are no financial shocks when you’re ready to pay your employee for the first time.
Our Fixed Fee, Small Business Payroll Service starts at just £28.86 per month which includes pension processing*.
And set-up of a compliant pension scheme can be completed from as little as £249.00**.
Our comprehensive service includes:
- Standard payroll payment calculations and tax and NI deductions
- Calculation of holiday entitlement, and management of holiday and absence.***
- Monthly assessment of employees for Workplace Pension status, and notification of change of status.
- Electronic pay slips emailed to you or directly to each employee at your request.
- Completion of your monthly RTI submission to HMRC.
- Upload of your pension data file to your Workplace Pension Provider.
- Suite of standard reports (or custom report) for your records, which will be provided directly to you and a third party or accountant at your request.
- your accountant at your request.
- Manual reconciliation and monthly update of Employers Allowance used.
- Update each month of the value of PAYE deductions due to HMRC, and a reminder of the date that payment is due.
- Update each month of the value of pension deduction and contribution payment due to your pension provider, and a reminder of the date that payment is due.
- Addition of new employees to the payroll.
- Processing of leavers and electronic P45 emailed to you or directly to them at your request.
- Year End Process, including electronic P60’s emailed directly to you.
- Includes 1 hour of phone support during each financial year.
- 14 day credit terms on each invoice
Call the office today on 01384 92 90 20 or complete the contact form. We’d love to talk to you about what you do and how we can make growing your business and becoming an employer simple and stress free.
* Quoted fees are for businesses with 1 employee only (2022-23 tax year)
** Fee based on Nest Pension Scheme. Other fees may apply with other pension providers.
*** Management of other absence e.g. maternity, paternity, shared or adoption leave, and production of letters charged at an hourly rate of £40.00 or as illustrated in your quotation.