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Licensed Trade - Case Studies

Working with licensed trade accountancy specialists at an early stage can help secure later success.

With initial work undertaken even before the client had taken up the reins of their lease, the 'Prince of Wales' is certainly a good example of how working with SGW from an early stage can prove beneficial.

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Payroll and RTI


Paying staff is complicated.
Anyone you employ, whether full time, part-time or on an irregular ad hoc basis, has to be paid properly and according to the demands of payroll legislation.
You are legally obliged to deduct tax and national insurance before you pay your staff. And legally obliged to provide employees with payslips and a P60 at the end of the year.
It all adds up to a headache … one that could get even more painful if your returns to HMRC are delayed. If that’s the case, then you can incur penalties. And – currently - if your preference is for paper rather than electronic submissions, then you’ll incur additional charges.
Put all of the above together with the fact that you’re probably better off spending the time concentrating on your core business – and outsourcing payroll makes a lot of sense.
It’s also easier to budget for because you can account for just one cost.
RTI - an even more compelling reason to outsource payroll
RTI stand for Real Time Information. It’s HMRC’s new way for businesses to report PAYE – and has been heralded as the most significant change to PAYE since the system was introduced in 1944.
The RTI deadline is 6 April 2013. By that time, all employers will be legally required to report PAYE in real time. This means that information about all PAYE payments needs to be submitted to HMRC online (ie: electronically) each time a payment is made as part of the payroll process, on or before every payday, rather than once a year at payroll end as is the case currently.
What are your options?
You could:
  1. get RTI compliant payroll software if you don't already have any
  2. update your existing payroll software to a version with this functionality (your provider can advise on this), or
  3. use a payroll provider like SGW Accountancy Services Ltd to manage payroll for you, including all reporting.
We strongly recommend option 3! Call SGW now on 02392 602 090 to discuss how our cost-effective payroll management system
can save you time and money …
and make sure you’re legally compliant and ready for RTI.