Initially becoming an employer for the first time is an exciting event. Employing staff brings with it additional responsibilities as well as an increased workload.
Registration with Her Majesty’s Revenue & Customs (HMRC) is fairly straight forward. Once the relevant information has been supplied HMRC will recognise you as an employer and supply you with lots of informational that will enable you to fulfill your statutory obligation.
All the information supplied will help you to produce, run and manage your own payroll. Taking the step to become an employer is an ongoing commitment to manage a payroll including the production of pay slips, charging the correct National Insurance contributions and handling tax codes.
In addition you will need to produce end of year records, issue P45’s and P11D”s and much more. This is one of the many reasons why some employers choose to outsource their payroll. Using an experienced company to provide payroll solutions is one way of ensuring that payroll needs are met. Alternatively you could embark on a journey of learning how to manage your own payroll.As well as registering for PAYE you will also need to consider the following:Employment contracts; and disciplinary procedures.
Health and safety.
Registration with the information commissioner.
* Employer liability insurance.
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