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Payroll problems?
Key points
- Errors in calculating payrolls can lead to penalties.
- The FPS must reflect the payment date.
- Is the employee legally entitled to work in the UK?
- Complete HMRC’s new starter checklist in all cases.
- Ensure compliance with national minimum wage rules.
- Back-up records should be held securely elsewhere.
Payroll is one of an employer’s biggest costs so getting it right is essential. But what are the consequences if you get it wrong? Underpayments or paying employees late not only has a direct impact on the workforce but could attract punitive penalties from HMRC and in turn damage the employer’s reputation.
An overpayment can affect the employer’s cash flow and if due to an agent’s omission there are further implications for the business. But payroll has become increasingly complex and the days of manual payrolls are thankfully behind us. They were time consuming and...
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Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
