Payrolling Benefits
Elite Payroll Services offers a comprehensive payroll benefit service that ensures complete transparency and compliance for both employers and their employees.
Our team have experience helping businesses streamline payroll and benefits processes with comprehensive and efficient services. We offer:
- 25+ years experience
- Dedicated payroll specialists
- UK-wide support
- Tailored reporting
- Compliance expertise
- Friendly personal service
How Elite Payroll Services Can Support Your Business With Payroll and Benefits
1. Registration with HMRC
- Assistance with registering your business for payroll benefits with HMRC, ensuring all necessary steps are completed before the start of the tax year.
- Guidance on which benefits can be payrolled and how to handle benefits that are not eligible for payrolling.
- Accurate calculation of the taxable value of employee benefits to be included in the payroll.
2. Payrolled Benefits Integration
- Seamless integration of benefit values into monthly payroll processing, ensuring that the tax on benefits is deducted each pay period correctly.
- Customisation of payslips to clearly show the taxable benefits and associated tax deductions, enhancing transparency for your employees. Our Payslip Services ensure that reliable, accurate and secure payslips are delivered to your employees.
3. Annual Reporting, Compliance & Penalty Avoidance
- Preparation and submission of year-end reports to HMRC, ensuring that all payrolled benefits are accurately reported.
- Proactive management to ensure that all payrolled benefits are correctly handled, helping you avoid penalties from HMRC.
- Regular updates and reminders to keep you informed of any changes in legislation that may affect your payroll of benefits.
- For more compliance support, see our Compliance Management Services.
4. Employee Communication
- Clear communication to employees about how payroll benefits work, what it means for their pay, and how it affects their taxes.
- Customised employee communications that align with your company’s branding and provide easy-to-understand information.
5. Ongoing Benefits Support & Adjustments
- Ongoing support to manage any changes in employee benefits, ensuring that your payroll remains accurate and compliant throughout the year.
- Our experts are on hand to manage all mid-year changes, such as new joiners or leavers, ensuring that benefits are correctly taxed from day one. We offer a Company-Specific Report Service that ensures we provide tailored support for you.
Payrolling of Benefits FAQ:
What is payrolling benefits?
Payrolling benefits is an HMRC-approved method that allows employers to tax employee benefits through the payroll instead of reporting them separately via P11D forms. By including the taxable value of benefits directly in employees’ pay each month, you simplify the tax process for both your business and your employees. This approach ensures that taxes on benefits are paid in real-time, reducing the administrative burden at the end of the tax year.
Payroll benefits can also improve transparency for employees, as they can see the tax impact of their benefits on their payslips throughout the year.
What are the benefits to employers when payrolling benefits?
There are many reasons why payrolling benefits can help your business run smoother day to day, including:
- Reduced administrative tasks: Payrolling benefits reduce the need to submit individual P11D forms for each of your employees. With this task eliminated, your overall payroll is streamlined.
- Tax Accuracy: Tax is deducted monthly when added to payroll, providing you with more clarity and real-time reporting.
- Transparency: With benefits displayed monthly in employee payslips, your employees have full transparency over their benefits, reducing anxiety and queries.
What are payrolling and benefits services?
Elite Payroll Services has over 25 years of experience in helping businesses across Yorkshire manage their employee’s payroll and employment benefits with our comprehensive payroll service.
Included in this payroll and benefits service, we manage:
- Payroll processing
- Benefits administration
- Payrolled benefits
- Benefits in Kind
- HMRC reporting
- Pension contributions
It is important to note that HMRC regulations on payrolling benefits are often subject to change and can be complex. We recommend taking advice from a payroll professional to understand your specific circumstances to maintain tax compliance.
What employee benefits can be included in payroll?
There is a wide range of benefits that can be included in employees’ payroll. These include, but are not strictly limited to:
- Company car allowances
- Private medical insurance
- Health cash plans
- Gym memberships paid by the employer
- Non-business travel expenses
- Mileage payments above HMRC-approved rates
- Living accommodation allowances (in some circumstances)
- Assets transferred to employees
- Beneficial loans
- Employer-paid subscriptions and memberships that are taxable
- Mobile phones and technology provided outside tax exemptions
If you are a business owner or manager who is seeking to include benefits for your employees through payroll, Elite Payroll Services is here to help. With a team of experienced professionals on hand to help, you can book your free consultation to discuss our payroll and benefits service today!
Our Services
Auto Enrolment
Securing your future through workplace pensions.
CIS Monthly Returns
Comprehensive reports to keep your business organised.
Company specific reports
We use top-tier payroll software to provide your business with custom reports.
Compliance Management
Ensure compliance with all payroll-related laws and regulations.
Payrolling Benefits
Payrolling benefits streamline payroll processing, ensuring compliance and accuracy
Payslips
We are able to provide you with accurate and secure payslips.