Xenith Wealth | Payroll Processing Solutions

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Our Payroll

Xenith provides business owners with accurate, confidential and cost-effective payroll services that meet the needs of each unique business. Using a combination of technologies and best practices, we will ensure that your payroll data is secure and aligned with the latest regulatory requirements. We provide practical and timely assistance in a professional manner.

Xenith can handle the processing of your payroll from start to finish. We do all forms of payroll preparation whether it be weekly, bi- weekly, fortnightly and monthly payroll, we can assist with it all!

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Who needs Payroll services?

Essentially, any company or employer which has employees working for them, needs to run an official payroll. The HMRC requires that the company submit Real Time Information (RTI) on each payday to ensure that everything is in order and that the wage and national insurance/tax has been paid correctly.

As a company or employer, you normally have to account for and deduct PAYE as part of the payroll process. PAYE is the HMRC’s system to collect Income Tax and National Insurance from employment.

It is important that the correct information is provided to HMRC as false or incorrect information could result in fines and penalties, as well as accruing interest on any missed payments.

What we can do for you

Setup your staff or contractors in the payroll system

Manage salaried and hourly

Do holiday pay calculations

Manage pension administration

Preparation and submission of payroll under real time information

Provide computer generated payslips

Complete administration for: national insurance, PAYE, statutory sick and maternity pays, and anything else that your business is liable for

Calculate all deductions including PAYE, all statutory payments, court orders, student loans and post-graduate loans

Ensure secure online submissions to HMRC ensuring full compliance with their real time information reporting requirements

Prepare employee end of year forms P60

Prepare the return of expenses and benefits forms P11D workers

Do your government remittance reporting & filing

Quarterly Tax Reporting

Year-end Reporting

About our pricing

Compliance

Your dedicated accountant will produce the necessary customised payslips & returns applicable to your company in order to comply with all regulatory and statutory requirements. Completing monthly/annual returns is a complex task, so we’re here to simplify the process for you! The accurate figures we produce will enable you to make insightful business decisions.

Fixed fees

Fixed fees for all once-off services. All payslips are included in monthly packages (Up to 10 Employees). Please contact us for a detailed break-down of all services offered.

Tax efficiency reviews

Your dedicated bookkeeper will conduct regular tax efficiency reviews, ensuring you’re claiming everything you could be and operating in the most efficient way possible.

FAQs

Who needs to think about payroll?

If you’re a company director and you're looking to pay yourself a salary above the National Insurance threshold, or you have employees, you may need to use our payroll service. Speak to one of or Advisors or your Dedicated Service Team to discuss further

I want to pay myself a bonus, is this tax efficient?

A bonus just like a salary is subject to National Insurance; both employers and employees. The rate of Corporation Tax relief does not outweigh the additional NIC incurred on salaries leaving dividends more tax efficient in most cases.

Can I use stationery for my payslips?

Payroll doesn’t use printed stationery. You can print payslips on A4 paper. Or, simply save the payslip as a PDF.

Can we just get access to payroll services without an entire bookkeeping package?

Yes, we offer customizable services to the companies best suited needs

When will I pay National Insurance?

National Insurance contributions will be automatically deducted from your salary, so you won’t need to do anything. It applies to each pay period. Depending on how often you get paid, it could be weekly, monthly, or a different time period. This means if you earn extra in one month, you’ll pay extra National Insurance. But you won’t be able to claim the extra back, even if your pay is lower during the other months of the tax year.

Payroll Services