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Payroll has always been a time consuming and stressful task for businesses whether large or small.

Payroll is a task which can never be forgotten or left late as it can only result in your employees not being paid on time and could also lead to a fine from HMRC.

Not only will you receive penalties for late PAYE payments but also for the late submission of the relevant full payment schedules. A full payment schedule (FPS) is the form that has to be submitted online every month to HMRC or every time an employee or director is paid.

You must ensure that all of your employee details are correct otherwise the FPS forms will be rejected and it could cause the FPS to be late. Alongside your payroll, the workplace pension is now an additional task to be carried out and is a legal obligation of all employers, regardless of the business size.

Every employer will need to look at their staging date and ensure that they have everything in place.

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Feel free to get in touch to discuss how we can help with your accounting needs.

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