As an employer you must comply with PAYE regulations set out by HMRC.
If you are paying yourself or anyone else over the Lower Earning Limit (LEL) you must operate a PAYE scheme.
LEL for last tax year 19/20 | LEL for the current tax year 20/21
£118 per week £120 per week
£512 per month £520 per month
£6,136 per year £6,240 per year
Yes, however we always advise you engage with a payroll provider to ensure you are complying with PAYE regulations to avoid any penalties being issued by HMRC.
Do I need to report to HMRC once I have set up my PAYE scheme?
Under Real Time Information regulations, you must report to HMRC on or before you make any
payment to yourself or your employees.
Is your current payroll provider delivering the same old service?
Are your PAYE liabilities up to date?
Maybe it’s time to move to a different approach - Gross pay offers as standard:
Payroll and Accountancy Services in Colchester and London. Call Gross Pay Ltd for a free consultation, or PAYE advice.
Head office - Second Floor Unit 107 Albany Gardens, Colchester, CO2 8HQ
London Office - 85 Great Portland Street, W1W 7LT