Our Payroll services

Registration

MW Accounting Services provides payroll services to small business in Bracknell. We will help you register your business for payroll with HMRC. This is because if you employ, even just, one person, then you, as an employer, are responsible to inform HMRC of your employee’s pay. You also have to deduct income tax and National Insurance from your employee’s pay and pay it over to HMRC. Besides you still need a payroll registration too even if you employ just yourself as the only director of your own company.

Further, we will also help register your business for workplace pensions as well because most employers now have obligations to contribute towards their employees’ workplace pensions.

Submission

In addition to payroll registration and as part of our payroll services, we will submit your payroll information with HMRC too. It will show all deductions from the employee’s pay. We can process and file your payroll on a monthly or annually basis. And you still have to submit your payroll information to HMRC even though the employee receives no pay in that pay period.

Tax code

All employees will have a tax code, which is a tax-free income they can earn each year. There are several tax codes for employees such as 1257L or BR. If your tax code is, for example, 1257L, this tax code is your Personal Allowance. In other words, it means you can earn £12,570 tax free.

The tax code is used to calculate the income tax deduction from the your pay. HMRC, however, can amend your tax code to reflect changes in your circumstances such as benefits you start to receive from your employer or other income you have, for instance, a second job.

A normal tax code for a majority of employees who have only one job, no untaxed income, unpaid tax or taxable benefits for 2021-22 is 1257L

Penalties

There may be penalties either for not or for late reporting your PAYE information. In order to avoid these penalties, it is therefore important to report it for each pay period. The penalties will depend on the number of employees you have.

No. of employees	monthly penalty charge (£)
1-9	100
10-49	200
50-249	300
250 or more	400

These penalties are either for:

inaccurate payroll info; or
deliberate errors; or
careless errors

Workplace pensions

The Pensions Act 2008 requires all UK employers, who employ at least one person, to put certain employees into a workplace pension scheme. Both the eligible and ineligible can participate. But only the eligible ones are automatically enrolled. Yet they can also opt out of the scheme if they wish. However, the ineligible can voluntarily join the scheme as well, and can do so by opting in. Further, both employees and employers must contribute towards the scheme. The aim is to help employees save for their retirement.

Workplace pension contributions

If the employee is an eligible job holder, then both employee and employer must make a contribution, which is a percentage of the employee’s earnings in that period, into the scheme. And from April 2019, employees must pay at least 5% of their pay while their employer pays a minimum of 3% into the scheme.

Employers, however, will only contribute this minimum amount for those who opt in if their earnings are over the thresholds of, for example £520 per month, £120 per week or £480 over 4 weeks.

Our payroll services

So if you look for all the payroll services in Bracknell, we are one of the best providers and we can help you with all the payroll needs.