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1. Company Directors can protect their home address details.
2. You are no longer required to have a Company Secretary.
 
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Payroll Payments

 

In the course of running a company payroll scheme, there will be two sets of payments which will be made.

The first category of payment will be those made to employees for the work services they have provided.

Typically, employees are paid either monthly, weekly or on an ad-hoc basis if the nature of their work is infrequent or casual.

National Minimum Wage

In deciding an individual’s employment package, companies should be aware of the national minimum wage and ensure that the laws relating to this are not circumvented.

Payroll Deductions

The second area which is relevant to making payroll payments is the calculation, deduction and remittance of PAYE and national insurance contributions to Revenue and Customs.

Such amounts are normally due on the 19th of each month following the payroll period.

Where the total sum of tax is less the £1500, the option exists to make payments on a quarterly basis instead of monthly. This could be beneficial for new and small companies form both an administrative and cash flow stand point.

Companies (and other businesses) are required by law to furnish each employee with a payslip which sufficiently details the sums due, deducted and the net amount which has been paid to them.

UK Company Formation and Registration Packages

 
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