Payroll

Payroll

Payroll is the UK PAYE and NI system. If you pay remuneration to employees you must deduct tax and national insurance taking into account personal allowances and the relevant tax bands. This involves also the calculation of sick pay, maternity pay, holiday pay and the payment to the inland revenue. Companies must also pay employers NI to the Inland Revenue. At the tax year end a form P32 must be balanced and submitted to the inland revenue with a years totals along with P11 & P14s