PAYE
We understand that dealing with tax codes and payment methods can be overwhelming, which is why we want to help you understand the PAYE system.
PAYE, or Pay As You Earn, is a system that is used by employers in the UK to deduct income tax and National Insurance contributions (NICs) from employees’ wages. The PAYE system also includes employers’ NICs, which are paid on top of employees’ salaries.
As an employer, you are responsible for deducting income tax and NICs from your employees’ pay and sending the payments to HMRC. You must also pay employer NICs on top of your employees’ salaries.
At Cooper Accounting, we can help you navigate the PAYE system, ensuring that you are compliant with all regulations and requirements. Our team of experienced accountants can assist you with all aspects of PAYE, including registering as an employer, calculating and deducting taxes, and submitting returns to HMRC.
We can also provide guidance on how to handle issues such as overtime pay, bonuses, and expenses. Our goal is to help you simplify your payroll processes and ensure that your employees are paid accurately and on time.
If you are looking for assistance with PAYE or any other accounting-related services, please don’t hesitate to contact the team here at Cooper Accounting. We are more than happy to discuss your needs, and provide a tailored solution to meet your specific requirements.
