When you are ready to pay yourself we will set-up your PAYE scheme and operate this on your behalf.
You will need to have set up your company bank account by this stage, so that your company can receive payment for your products or services, and so that you can refund your expenses and pay yourself a salary.
We will run your company payroll for you, and we appreciate that you may wish to pay yourself or other employees different amounts each month.
When you are ready to pay yourself, we will set-up your PAYE scheme and operate this on your behalf. Further employees can be added to the payroll at any time.
Your payroll will be run on a monthly basis according to a pre-set timetable, with computations being based on the total funds (including Employer’s NI) that you wish to devote to salaries in that particular month. Further employees can be added to the payroll at any time.
For company directors there is a technical issue relating to NI. For you, NI is charged on an annual basis, which means that no Employer’s or Employee’s NI is payable until your salary meets the annual “Primary Threshold” (pro-rated in the first year from the date of incorporation). When working on assignment for the first time you may also have the benefit of unused tax allowances, and as a result your first net salary payment will probably include less tax and NI than you would normally expect to pay in later months.