Our company “Planetary Accounting and Marketing Private Limited” is a trustworthy outsourcing company providing Payroll services mainly in countries like Europe, United Kingdom, USA, Australia, and Ireland.
What is payroll?
Payroll is the total of gross wages, bonuses, and commissions, inclusive of whatever an employee earns in monetary terms and after deduction for (pension contributions, loan repayments, Student loan deductions) paid in terms of salary for the work they had performed for the company.
All the companies must register themselves as an employer if employed employees and shall establish a payroll.
What is the importance of payroll accounting in a company?
Companies have to keep a record of all their financial transactions done, and salary paid is one of the major business expenses for companies which have to be disclosed in the books of accounts. As part of payroll management, it is necessary to scrutinize that all salary and recompense information is fed correctly into accounting or ERP system.
It helps in establishing the company’s reputation as payroll accounting involves a reputable and professional payroll team to prevents fraud and maintain compliance and submit the necessary documentation to strict deadlines.
Payroll accounting helps in employee development and minimizes the chances of retention.
It helps in determining the actual cost to the company
OUR PAYROLL SERVICES
Planetary Accounting and Marketing Private Limited provides payroll service, payslips processing, employee benefits, insurance, and accounting task.
Payroll in the UK is slightly different, In the UK, PAYE payroll runs every month so it is important for employers to calculate statutory tax, National Insurance contributions, and other deductions from the salary of the employee, and provide the employee with payslip and form-P60 which represent the tax that you’ve paid on your salary in the tax year. Besides that employers are obliged to make a final report for the year to Her Majesty’s Revenue and Customs (HMRC) each month on or before the pay date.
Our professional team provides payroll service in the UK after compliance with all local regulations and statutory tax requirements.
Why choose planetary accounting and marketing private limited?
Our experienced team is fully focused on work thus it helps you in saving your business time, productivity, and money.
Outsourcing your payroll services with us will minimize the chance of fines and penalties occurred due to non-compliance with PAYE regulation or with other statutory regulations as we provide timely services to our clients. Besides that, we also provide the best quality services by ensuring compliance with all state and federal laws governing payroll.
Our company provides the UK payroll service to any type of company irrespective of whether it is a small scale company, service provider, manufacturer, or simply a UK based company. Apart from it, we handle deposits and withdrawals, withholding, and new-hire reporting of employees.
We also maintain the confidentiality of your business records by making your data accessible only by the approved team as we take care of every single step in keeping your data secure with us.