As a business grows, you might take on permanent employees who you pay using the pay-as-you-earn (PAYE) system. This deducts tax at source, withholding it on income payments to your employees so they do not have to complete tax returns. It is your obligation to ensure staff are paid correctly through PAYE, meaning you will need to set up a payroll. We offer payroll services like setting up and administering a payroll scheme for you, giving you back valuable time to grow your business further.
For people in the construction industry, we can also assist with construction industry scheme (CIS) deductions. This is a complex scheme to understand without prior experience – luckily for you, we know it inside out, and can give you the best advice depending on your circumstances.
If you have been searching for “accountants near me,” you are at the right place. Talk to us about payroll, PAYE, or CIS returns. Call 01322 250 001 or email info@adams-accountancy.co.uk to get the conversation started.
Get a quote for payroll, PAYE and CIS services
SETTING UP AND ADMINISTERING A PAYROLL WHAT’S INVOLVED?
Setting up and running payroll can be complex, which is why accountancy firms like ours offer payroll services to handle it for you. When setting up a payroll scheme, there are many obligations and thresholds you need to meet, such as auto-enrolment and pension schemes. You will also need to deal with PAYE returns, deducting tax and telling HMRC how much each employee has been paid. The process is much easier with an experienced accountant on board, helping you every step of the way.
We can:
- Set up your payroll scheme with you, ensuring it works for your business.
- Administer it for you, making payments to employees as often as required.
- Calculate deductions, complete PAYE returns and make submissions to HMRC.
- Tell you exactly how much you owe HMRC and when to make these payments.
- All we need from you are timesheets and hourly rates/salaries – we will do the rest. We will then provide your employees with payslips.
HMRC CIS returns
If you work in construction, you likely need to submit HMRC CIS returns. The construction industry scheme (CIS) requires contractors to deduct money from subcontractors for tax and National Insurance. Both contractors and subcontractors need to register, and we can help with the whole CIS return process.
GET IN TOUCH WITH ADAMS ACCOUNTANCY NOW.
Want some help with your finances? Then please get in touch on 01322 250 001 or email us at info@adams-accountancy.co.uk’
Navigating CIS supporting contractors and subcontractors
If you are working in construction, the construction industry scheme (CIS) may be applicable to you. Contractors deduct advance payments for tax and national insurance from a subcontractor’s wages, and both parties need to be registered for lower rates to be applicable.
Understanding CIS is complex and there are many factors that come into play. We work with both contractors and subcontractors to ensure both parties understand their obligations and will pay the right amount of tax.
CIS – what’s a contractor or subcontractor?
Subcontractors provide labour services to contractors, but they are not directly employed by them. Typically, a subcontractor isn’t entitled to holiday or sick pay and bears all the risk of the contract – they should have their own insurance and tools.
CIS services for contractors
We can:
- Help you decide if people working for you are legally classed as employees or subcontractors
- Get you set up with the CIS so you can make deductions for your subcontractors
- Calculate deductions and submit information to HMRC, in much the same way as a PAYE return
- CIS sub-contractors
CIS services for subcontractors
As a subcontractor, we can assist you with:
- Getting set up with the CIS
- Completing and submitting your CIS returns each tax year
- Calculating if you’re due a rebate
- Let us handle your CIS returns while you focus on your work.
VAT Cash Accounting:
Are you considering VAT cash accounting for your business? We can provide guidance and support tailored to your needs.
HEAR FROM OUR CLIENTS
Here’s what our clients had to say about our accountancy services:
“I have worked with Adams Accountancy for 2 years now and the level of service and professionalism received from Michelle and the team has been second to none and I would not hesitate in recommending Adams Accountancy to any other organisation.”
Sarah Rhucroft-Kirkwood Kirkwood Consulting Limited
“Since taking up my new role as Committee Treasurer to our local pre-school, I have taken over the pre-existing relationship we had with Michelle and her team. It’s been great to work with them over this past 18 months as they have really helped us look at where we were and what you could do differently. Supporting us through several business changes, recommending specialists that could help us in other aspects of our growth and getting to the bottom of some long-standing questions we had around the circumstances of the services we offer. We are not the same Pre-School we were 18 months ago, large in part to the partnership we have with Adams Accountancy. I can’t wait to see what we do in the next 18 months together.”
James Henderson St Paulinus Pre School Limited
Suppliers
FAQs
Can your payroll service help with pension scheme management?
Before you have a pension scheme, we review every pay run for employees that have become eligible to become part of a workplace pension scheme. When your first employee becomes eligible, we would advise you to speak to a financial advisor who can help you choose a suitable scheme for your business. Many of our clients use NEST or People’s Pension for example. We can help with the set-up of your pension scheme and then assess your employees each pay period to calculate the required contributions. We also tell the pension provider about the deductions you make from your employee’s wages and tell you how any when to pay the deductions over to the pension provider.
What penalties apply for late CIS returns or incorrect filings?
Each late CIS return will receive a penalty of £100. CIS returns cover the period 6th to the 5th each month and the return is due by the 19th.
Do I need a payroll service for my small business?
If you pay staff over £123 per week then you will need to operate a payroll scheme. A payroll scheme may also be due if the payments are below this so it’s always best to check. If you work alone, you could use a payroll scheme so that you pay less tax on the money that you withdraw from your business. We can advise on this and will consider other income that you may have to arrive at a tax efficient solution tailored to you.
How do payroll services work?
Each pay period (weekly or monthly is most common) you will tell us how much you are paying your employees. This could be related to hours worked or a fixed salary. We then process the payroll and calculate the PAYE, NI and pension deductions. We will give you a payslip for your employee and let you know the net pay that you need to pay them. We will also tell you how much PAYE and NI you need to pay over to HMRC and when to do this. We use an online portal, so all your information is in one place, and the information is very clear.
What is payroll services?
The term ‘payroll services’ covers what we do for you when you want to pay an employee. We calculate the PAYE, NI and pension contributions that need to be deducted from the employee’s gross pay and give you a payslip for your employee so they can see what they have been paid. We make the required submission to HMRC and tell you how and when to pay the PAYE and NI deductions to HMRC.
Why outsource payroll services?
When you use a payroll provider, you can be confident that you are paying your employees correctly and making the deductions that HMRC expect you to make. It sounds easy but there are many mistakes that you can make when you process your own payroll. You need to make sure you fully understand the requirements of workplace pensions for example, these can be complex and the penalties for making mistakes can be large.
How much do payroll services cost?
Payroll for one employee is £25 per pay run. Additional employees are £5 each. If you need payroll for directors only, it’s £20 for the first director and £5 for each additional director/employee. If your employees are members of your pension scheme there is an additional £3.50 per employee charge which covers the calculation of contributions and the submissions to the pension scheme provider. Fees stated are exclusive of VAT.
Contact Adams Accountancy
Let’s talk about your payroll CIS returns. Adams Accountancy is here to support your business. Call 01322 250 001 or email info@adams-accountancy.co.uk