Payroll Services

If you are looking for a solution to outsource your payroll, the Gascoynes team can manage the entire process ensuring your people are paid correctly, on-time and submissions to HMRC are compliant.

With this part of your business in safe hands, it frees up time for owners and senior finance staff to concentrate on other business priorities.

We work with a broad range of clients for their payroll. This can range from a single Director business through to companies with over one hundred employees who are paid either weekly, fortnightly, 4-weekly or monthly.

Do I need to outsource my payroll?

It is not always a question of the size of your business which should determine whether you need to outsource payroll. Regardless of your business size, outsourcing payroll should be considered when…

• your business and headcount are growing.
• the time taken to do payroll in-house detracts from other business priorities.
• keeping updated with changing legislation could run the risk of errors or non-compliance.

How the Gascoyne’s payroll process works…     

• We request the data from the client alongside tax code updates from HMRC.
• We input any hourly, overtime, holiday and commission into our software and calculate the income tax, NIC, Student Loan, Attachment of Earnings orders & pension deductions.
• We advise the employer of the amount to pay to the employee and amount due to HMRC in respect of these calculations.
• The employer can choose to make these payments themselves or request that we handle these payments on their behalf. This is completed through an app that requests payment from the company’s bank account.
• We provide our clients access to the BrightPay portal (all included within our fees). This allows employees to access their pay slips at all times, as well as changing their address and requesting different forms of leave.
• As part of the BrightPay portal, the employer also gets overall access to view an employer calendar which shows all employee’s annual leave and allows the employer to approve any leave requested.
• The employer can also store all HR documents on each employee as well as sending out any company-wide communications and updates.

Annual statements

As well as regular salary payments, P60’s are completed at the end of the year and sent out to the employees once the last payroll for the year is completed. This will include details if an employee has any expenses and benefits paid for by the company, for example private medical insurance or company vehicles. A P11D & P11Db is then completed on behalf of the client by the filing deadline of 5th July.

We also provide an online portal for both employers and employees through our payroll software. Both parties have access to important pay related information including their regular payslips, P60s and P11Ds.

Construction Industry Scheme (CIS)

If you are a contractor or subcontractor in the construction industry HMRC will require you to sign up to the Construction Industry Scheme (CIS). For contractors, we can help with the process of verifying what level a subcontractor is registered for with HMRC and then produce the HMRC payment and deduction statements required for the subcontractor and file the CIS return at the end of each tax month, At this point we can advise if any payment is due to HMRC.. If the contractor is also a sub-contractor, we can file the necessary EPS to reclaim the tax deducted from HMRC.

What is the current legislation which impacts payroll?

• From 6^th April 2024, a reduction in Class 1 National Insurance Contributions for employees from 10% to 8% and the upper rate (earnings above the upper earnings limit £4189 per month) to 2%.
• From 1st April 2024, there is no minimum wage category for those aged 21-22. New minimum wage for 21 and over is £11.44/hour, 18-20 is £8.60/hour and U18/Apprentice is £6.40/hour.

Are there any changes to payroll legislation in the Autumn 2024 budget?

Changes to National Insurance Thresholds for employers. The employer rate from 6^th April 2025 will increase from 13,8% to 15%.

Reduction of secondary threshold to £5k per annum. Secondary threshold is when employers are liable to pay national insurance contributions. The threshold is currently at £9,100 per year. This will reduce to £5,000 per year for three years from 6^th April 2025 and then increase in line the CPI.

Increase in Employment Allowance to £10,500 per annum. Employment Allowance allows currently for business with national insurance bills of £100,000 or less in the previous tax year to deduct £5,000 from their employer’s NIC bill. This allowance will increase to £10,500. The £100,000 threshold for eligibility will also be removed expanding this to all eligible employers with employer national insurance contribution bills.

Changes to the National Minimum Wage from 1^st April 2025 will apply as follows…

• Aged 21 and over – £12.21/hr.
• Aged 18-20 – £10.00/hr.
• Aged 16-17 – £7.55/hr.
• Apprentice – £7.55/hr.

What about over the next few years?

In 2026-27, HMRC have announced that the reporting and paying income tax on benefits in kind will need to be processed monthly through the payroll. This change means that employee’ will no longer be paying income tax in arrears and will make it simpler for employees and employers to understand for what reasons income tax is being deducted.

Do you need help with your payroll?

For help or if you have questions to do with any aspect of payroll, please do get in touch via the form below or contact one of our local offices here

Or how about visiting us at your local Norfolk or Suffolk office: Wymondham, Bury St Edmunds, Ipswich, or Stowmarket

Contact us today to book an appointment.