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Payroll & Pension Services

 

We understand the challenges business owners face and how every minute in your day makes a difference.

Processing payroll for your employees, submitting payroll taxes and keeping track of the ever-changing payroll tax laws and dealing with pension auto-enrolment can take a considerable amount of time. Why not let us complete these tasks for you so you can have more time to focus on the core aspects of your business.

Payroll Services

Our services are specifically tailored to meet your individual requirements. We can set up your payroll from scratch if you are new to payroll services but if you are already doing payroll then transition to our payroll service could not be easier. We take full control of the import of your existing payroll data from your current payroll system into our systems. To do this, we ask you to provide the information in a pre-defined spreadsheet. Once the timetable for delivery of payroll data is agreed clients using our payroll service can expect the following:

  • Production of electronic payslips, P45s and all standard reports
  • All payroll documents uploaded onto a secure online portal for your review and approval. All payslips uploaded for your employees to receive on specified date.
  • No need to email or post the payslips. Employees can download or view paslips on a secure online portal anytime.
  • RTI data submissions to HMRC everymonth
  • Email confirmation of the amount you need to pay to HMRC by the due date for each pay period
  • Transmission of BACS files and payment to employees although this service is more cost effective if you have more than 10 employees
  • Set up of Auto-Enrolment Pension Scheme and monthly submission to pension companies
  • Compliance with payroll legislation
  • Secure off-site data backup
  • Provision of support for queries
  • Advice provided by CIPP qualified and highly experienced payroll advisors

In addition to the above payroll processes, we also take care of your year-end procedures and RTI processing. This includes the production of your employees P60 and P11ds, employer’s P11d(b) and electronic filing of the year end information to HMRC on your behalf.

Our Fees

  • PAYE and Pension Setup £200+VAT
  • Payroll processing : £10 +VAT per payslip per month (25% discount for additional employees over 15)
  • NEST pension setup £200+VAT
  • Pension submission with NEST or People’s Pension £25 +VAT per month
  • BACS payment to individual employees bank account £120+VAT per month. (minimum 15 employees)

 

 

How It Works

  • We will register your business for payroll with HMRC
  • Once registered you will receive PAYE reference number and accounts office number at your registered address which you forward to us
  • We will ask you to provide company details and employee details using our payroll spreadsheet. Once we have all the necessary information we will set up your payroll within our system
  • We have a dedicated email for payroll payrollwatermill@gmail.com
  • We will be sending you reminders every month to update us of any changes. For some customers we use payroll master spreadsheet to communicate payroll information and changes each month
  • Once we have received the payroll information or master spreadsheet from you, we prepare a month end summary report, payslips summary and pension report (if you have pension services with us)
  • We will also inform you the amount you need to pay to HMRC by the due date (usually 22nd of the following month)
  • We have a secure portal where all payslips are uploaded so you can go and review and if you are unhappy with anything you can reject and inform us. If you are happy you do not need to do anything the payslips will be published to the employees on the pay date which means you do not need to individually email payslips to your employees
  • You would need to pay the employees the net pay amount on the pay date. We also have a BACS service where we could make the payment but it might be more cost effective if you have more than 15 employees
  • We will take care of the monthly payroll submission to HMRC on your behalf
If your business employs staff, you are obliged to set up a pension scheme for them.

Pension Setup –  Premium 

Watermill Accounting’s auto-enrolment for pensions service helps you choose the best scheme for your company by providing a report comparing up to 6 schemes.  It will then set up the scheme and pass all the necessary information to your payroll provider. Once you have chosen a scheme Watermill will set it up for you.  The service includes:

  • Sending communications to employees
  • Setting up your chosen scheme
  • Enrolling the employees to the scheme
  • Submitting the Declaration of Compliance with the Pension Regulator

The above service costs £600+VAT

Pension Setup –  Basic 

We will set up your pension with NEST (the government pension scheme).  The service includes:

  • Sending communications to employees
  • Enrolling the employees to the chosen scheme
  • Submitting the Declaration of Compliance with the Pension Regulator

The above service costs £200+VAT