Payroll / CIS

Payroll

Administering payroll can be time-consuming and complicated, making it challenging for business owners to ensure their employees are paid correctly and on time. Outsourcing payroll is often a cost-effective solution, especially for smaller businesses, as it eliminates the need for a dedicated in-house team.

Services Offered: Elite Financial Accounting provides a fully compliant, affordable payroll service for businesses of all sizes across various industries. We monitor the evolving complexities of taxation and employment legislation to ensure our clients meet their obligations as employers. Our bespoke payroll services include:

• Employee pay slips
• Monthly calculations
• Departmental reports
• Staff employment and notice periods
• Staff costs analysis
• Real-Time Information (RTI) PAYE returns
• CIS Returns
• End-of-year summaries, including P60s
• P11D and P9D benefit and expenses returns

Complexities such as tax, maternity pay, student loans, national insurance, and pensions can make payroll perplexing. At Elite Financial Accounting, we offer a cost-effective and transparent service that saves you time and resources, allowing you to focus on other areas of your business.

CIS (Construction Industry Scheme)

Non-compliance with CIS regulations can lead to significant penalties from HMRC. Elite Financial Accounting's experienced team guides and supports clients to ensure compliance with CIS rules.

Services for CIS Contractors:

• Registration as a contractor with HMRC
• Verifying subcontractors with HMRC
• Keeping you updated on CIS regulation changes and their impact
• Ensuring correct and compliant payments to subcontractors
• Providing HMRC and subcontractors with statements showing deductions

Services for Subcontractors:

• Managing business records
• Preparing self-assessment tax returns
• Correctly registering and verifying your status with HMRC on behalf of your contractor

Our team at Elite Financial Accounting helps contractors determine the correct employment status of their workers, whether self-employed or employees, providing guidance and advice to ensure compliance with tax regulations.