Professional Payroll Services

Payroll management involves crucial elements including PAYE, NIC, Pension deductions, Benefits in Kind, and Minimum Wage compliance. At MG Walker & Co Ltd, we provide comprehensive payroll services to ensure accurate and timely processing for your business.

Understanding Payroll Complexities

This area can be fraught with problems for employers. Employees can be understandably annoyed if they do not receive a timely and accurate payslip. It has to be remembered that staff may need this information for their mortgages, child support payments, and other important financial commitments.

Our Comprehensive Payroll Solutions

At MG Walker Co Ltd, we have the correct software to ensure that wages are calculated accurately, showing:

• Complete Pay Breakdown: Detailed calculations of gross pay, deductions for tax, National Insurance, Pension and other deductions such as child maintenance
• Holiday Management: Systematic recording of staff holiday requirements
• National Insurance: Accurate calculation of employer's national insurance, accounting for government budget changes
• Benefits in Kind: Processing of company benefits such as company cars, ensuring correct P11D tax calculations
• RTI Compliance: Timely submission of Real Time Information to HMRC, preventing fines and penalties

HMRC Compliance and Minimum Wage Requirements

Payroll is subject to strict regulatory oversight from HMRC. Details of monthly/weekly payments have to be reported to them as they are made. This is called RTI (Real Time Information). Failure to comply invites fines/penalties. HMRC are responsible for making sure that the correct age appropriate minimum wages are paid and often inspect this aspect of a company's activities.

Expert Support for Your Business

Payroll is an important and complex area. MG Walker Co Ltd can provide professional expertise and software to ensure the correct output. Please contact our office if you would like to discuss this further at 01246 272 888 or 07768 997711.