changed in 2013…. … it became a big headache
The growing complexity of taxation
and employment legislation can often make administering payroll difficult and
time consuming. Relieve the burden of diverting energy and costly resources
from the core activities of your business by using KPM Accounts to administer
In April 2013 HM Revenue and Customs
introduced the new Real Time Information (RTI) reporting requirements for
So, what is RTI?
In a nutshell, it’s a new way of reporting for employers that replaced
the year-end P35 and P14 forms. Instead of reporting changes and figures
at the end of the tax year, you are required to report on or before
every single payday.
You must make sure your payroll
systems and software are approved by HM Revenue and Customs and fully
The penalties for incorrect reporting
For example, the late filing penalties typically range from £100 to £400
(depending on the number of employees). That’s every month. So,
over a year penalty for late filing could amount to as much as £4,800.
Additionally, there is interest charged of tax and NIC that should have been
reported if you are more than 3 months late.
By using KPM Accounts Ltd for your
payroll you are saying goodbye to the big headache of payroll and the
accompanying regime of penalties for non-compliance or incorrect reporting.
-Leaving us to deal with your payroll takes away all the headaches and frees up your time to focus on running your business.
-You can sleep at night knowing you are complying with the RTI legislation.
-You will know your payroll is submitted on time. And that means you don’t need to worry about the severe penalties of up to £400 per month.
-Professional payroll advice is just a phone call away.
-Less stress as we take care of the complicated bits.
-Enhanced data confidentiality.
-Improved record retention for PAYE inspection purposes.
-No internal payroll software and reduced IT costs.
-Real time information to support business decisions.
-Maximum 48-hour turn around, within an agreed payroll timetable and subject to provision of full payroll information.
How much will it cost?
Prices are based on the number of
employees and frequency of pay.
We have three packages which means
you can choose the option which best meets your needs. And if you choose,
we can easily add on an option to deal with your Auto Enrolment.
Optional Bolt on packages:
Registering for PAYE
Setting up / renewal of Public Liability Insurance
Completion of P11D
Setting up Pension scheme
Here are our 3 Payroll services…
Whatever your size, you will find one of our payroll options to suit your needs. The table below summarises what is included within each of our payroll service levels. To help identify the best option for you here is a quick overview: