Variable Payroll
We apply to HMRC to set up a payroll scheme for your company and we act as your agent thereafter, liaising with HMRC on all payroll matters. Competex works on a ‘total cost’ (i.e. gross salary + employer’s NI) basis for processing salary, using specialist software that has been specially commissioned by us and built to accommodate the needs of multiple small businesses. Your payroll summaries are available online at any time, and we run frequent pay-runs to accommodate your working schedule. We also complete forms P60, P35 and P11D at the end of the tax year. Our system allows you to alter your salary each month if required.
Our knowledgeable payroll staff are always on hand to talk you through the process and to give advice on areas such as salary levels, tax codes and calculations. They are always on the alert for accidental reporting errors and will advise on the very latest legislation that may affect you. Our staff appreciate that every client is different, and will take the time to get to know you and your particular needs.
IR35
The very nature of their work means that some of our clients are affected by IR35. IR35 is a set of rules governing the amount of your company's income which must be paid to you as salary in certain circumstances. The rules are complex and depend on the nature of your work and the relationship with your client. Each assignment has to be judged on its merit. We have published a detailed document on IR35 which you can download and there is further advice on the HMRC website. Our payroll department provides IR35 compliance templates to ensure that the correct pay is calculated to meet legal obligations based on gross salary + employer’s NI.