How to withdraw funds from your organisation – Payroll
This month’s theme for MJB Avanti is How To Withdraw Funds From Your Organisation and this week we will cover Payroll
Each time you pay an employee you must declare this to HMRC, whether that is weekly, fortnightly or monthly.
And the declaration must be submitted to HMRC on or before the date the payment is made via the Real Time Information (RTI) requirements.
Every employee paid must be on the PAYE, no longer can you pay someone cash in hand.
And don’t forget it is a legal requirement for every employer to apply for pension auto-enrolment – even if you do not need to run the pension scheme, you have to tell HMRC you are exempt.
MJB Avanti provide a full Payroll Bureau Service. If you know a limited company with one or more employees and they may not be taking advantage of the allowances available please ask them to contact me