Payroll

Setting Up and Managing Your Payroll System

An efficient payroll system is essential to ensure your employees are paid on time and their salaries are correctly calculated. This guide explains: An employer’s payroll responsibilities The records you need to keep Legal issues relating to payroll Payment methods Payroll system options An employer’s payroll responsibilities Payroll is simply any system an employer uses to work out their employees’ salaries and make the correct deductions from their pay. An employer is obliged by law to adjust wages to account for: Tax. National Insurance contributions. Along with certain other items depending on the employee, such as: Pension contributions. Student loan repayments. Sickness benefit. Maternity pay. Deductions are worked out using complex tax tables provided by HM Revenue... »

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