BTS ACCOUNTANCY SERVICES
All companies need accountants to manage their financial information and keep track of all the money that goes to and from their
company. Accountants provide services for creating and managing income statements, cash flow statements, statements of financial
positions, self assessment tax returns and student accounting tutorials. Without these services, a company could never keep track of
their financial standing.
We may also perform wider tasks such as invoicing, paying bills, preparing tax returns, monitoring key performance indicators, and providing strategic advice.
Bookkeeping traditionally refers to the day-to-day upkeep of a business’s financial records. As Bookkeepers, we use to simply gather and quality-check the information from which accounts were prepared. But their role has expanded over time, and we’ll look at how in the next chapter.
Payroll PAYE Processing & Compliance
As an employer, we normally have to operate PAYE as part of your payroll. PAYE is HM Revenue and Customs’ (HMRC) system to collect Income Tax and National Insurance from employment.
You do not need to register for PAYE if none of your employees are paid £123 or more a week, get expenses and benefits, have another job or get a pension. However, you must keep payroll records.
Payments and deductions
When paying your employees through payroll you also need to make deductions for PAYE.
Payments to your employees
Payments to your employees include their salary or wages, as well as things like any tips or bonuses, or statutory sick or maternity pay.
Deductions from their pay
From these payments, we’ll need to deduct tax and National Insurance for most employees. Other deductions you may need to make include student loan repayments or pension contributions.
Completed operations programs