One of the most common issues for business owners is not putting enough money aside for tax.The amount you should set aside depends on: Your business structure Your level of profit Whether you are ...
Statutory payments explainedStatutory payments are payments that employers are legally required to make to eligible employees in certain situations, such as sickness or maternity leave.These paymen...
What is NEST?NEST stands for National Employment Savings Trust.It is a workplace pension scheme set up by the government to help employers meet their auto enrolment duties.Many employers choose NES...
Auto enrolment is a legal requirement for employers in the UK.Under auto enrolment rules, employers must: Assess their staff Enrol eligible employees into a workplace pension scheme Make contributi...
When Mazuma manages your payroll, we handle the calculations and reporting. However, as the employer, you remain legally responsible for making sure everything is accurate and paid on time.Payroll ...
Running payroll is a legal responsibility. Even if Mazuma processes your payroll, you remain responsible as the employer for making sure payments and deadlines are met.Below is a clear summary of w...
A tax code is used by HMRC to tell an employer how much Income Tax to deduct from an employee’s pay.The tax code is applied through payroll and directly affects how much tax someone pays each payda...
When you run payroll, money is deducted from an employee’s gross pay before they receive their net pay. Some deductions go to HMRC, some go to pension providers, and some may go elsewhere depending...
How payroll works in simple termsPayroll is the process of paying employees and reporting the correct information to HMRC.Each time you pay someone, several things happen behind the scenes: Their g...
What does registering as an employer mean?In the UK, when you pay employees (or pay yourself as a director through payroll), you usually need to run PAYE. PAYE is HMRC’s system for collecting Incom...