Address
81D Sandeman Street, Dundee, Scotland DD3 7LA
Work Hours
Monday to Friday: 9AM - 5PM
Weekend: 9AM - 3PM
Payroll Services
At PFI Accountants, we understand that efficient payroll processing and strict compliance with payroll regulations are critical components of a well-managed business. Our comprehensive payroll services are designed to ensure that your payroll operations are accurate, timely, and fully compliant with United Kingdom standards.
What We Offer
Comprehensive Payroll Setup
We assist businesses in setting up their payroll systems, ensuring all employee details and salary structures are accurately recorded. This includes configuring pay rates, tax codes, National Insurance (NI) contributions, and other relevant payroll elements.
Accurate Payroll Calculation
Our payroll processing services ensure precise calculation of employee wages, including regular salaries, overtime, bonuses, and commissions. We utilize advanced payroll software to automate calculations and minimize errors, ensuring every payslip is accurate.
Timely Payroll Execution
We guarantee that your employees are paid on time, every time. Our team adheres to your payroll schedule, whether it’s weekly, bi-weekly, or monthly, to ensure that all payroll transactions are completed promptly and efficiently.
Management of Statutory Payments
We handle all statutory payments, including Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP), Statutory Paternity Pay (SPP), and Statutory Adoption Pay (SAP). This ensures compliance with UK employment laws and provides your employees with their entitled benefits.
Payroll Reporting
Our services include detailed payroll reports that provide insights into payroll expenses, employee earnings, and tax contributions. These reports are essential for financial planning and budgeting, allowing you to manage your payroll costs effectively.
Pension Contributions Management
We manage auto-enrolment for workplace pensions, ensuring that contributions are correctly calculated and submitted to the appropriate pension scheme. This includes managing employee and employer contributions and ensuring compliance with The Pensions Regulator’s requirements.
Compliance with Payroll Regulations
- Adherence to HMRC Regulations: We ensure full compliance with HM Revenue and Customs (HMRC) regulations. This includes accurate calculation and timely submission of Pay As You Earn (PAYE) and National Insurance contributions. We stay updated with any changes in tax laws and HMRC guidelines to keep your payroll compliant.
- Real-Time Information (RTI) Submissions: Our payroll services include submitting Real-Time Information (RTI) to HMRC each time employees are paid. This ensures that HMRC receives accurate and up-to-date information about your payroll, helping you avoid penalties and maintain compliance.
- Compliance with Employment Legislation: We ensure that your payroll practices comply with UK employment legislation, including the National Minimum Wage (NMW) and National Living Wage (NLW) regulations. We monitor changes in legislation to ensure your payroll remains compliant with all statutory requirements.
- Secure Data Handling: Data security is a top priority at PFI Accountants. We ensure that all payroll data is handled confidentially and stored securely in compliance with the General Data Protection Regulation (GDPR). This protects sensitive employee information and minimizes the risk of data breaches.
- Employee Tax Codes and Adjustments: We manage employee tax codes and ensure that any changes are accurately reflected in the payroll system. This includes handling tax code notifications from HMRC and making necessary adjustments to avoid discrepancies in employee tax deductions.
- Year-End Payroll Processes: At the end of the tax year, we handle all year-end payroll processes, including the preparation and submission of P60s for employees and P11D forms for reporting benefits and expenses. We also ensure accurate reconciliation of payroll data for the tax year-end reporting.
PFI Accountants’ payroll services provide a seamless and compliant payroll management solution for your business. By leveraging our expertise in efficient payroll processing and strict adherence to UK payroll regulations, you can focus on your core business activities, knowing that your payroll operations are in safe hands. Trust PFI Accountants to deliver reliable and accurate payroll services that support your business’s growth and regulatory compliance