EMPLOYMENT TAX - PAYE
We help employers complying with HMRC
PAYE is HMRC’s system to collect Income Tax and National Insurance from employment. You do not need to register for PAYE if none of your employees are paid £120 or more a week, get expenses and benefits, have another job or get a pension. However, you must keep payroll records. As an employer, you are responsible for deducting tax and National Insurance from your employees’ pay. As an employer, you are also responsible for telling HMRC about any taxable benefits in kind your employees receive from you.
If you pay late or send less than the full amount, you’ll receive a warning or financial penalty from HMRC. Responsibility for collecting tax and NIC, as well as liability for its non-payment, rests wholly with you as the employer, not your employee.
In today’s complex and competitive business environment, the employment, retention, and enthusiasm of a skilled and competent workforce are challenging for any prospering business. That’s why businesses have to deal with flexible benefits, shared rewards, and customized remuneration packages to inspire their workforces. However, employers need to get a clear understanding of their tax obligations and reporting prerequisites to avoid charges. ZATRS has expert knowledge in advising employers of all sizes to help understand HMRC’s complex guidelines. We provide clear and customised advice matching with your business goals and culture so that you can focus on managing your business.