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It goes without saying: payroll and pensions are essential elements of any business. But managing your business’ payroll and pension scheme month in, month out can be a timely task.
Plus, once you throw employment legislation and taxation into the mix, along with the possibility of penalties for non-compliance — managing your business’ payroll and pension contributions can seem like a minefield.
But that’s where our professional business accounting services step up to the plate. Here at AnRos Consultancy Ltd, we are adept at using cloud-base software to administer customised payslips, administration of PAYE and can handle the paperwork of pension schemes.
Our fully qualified company tax accountants have more than 13 years’ experience in the industry, and hold all the expertise needed to make sure that your employees receive accurate and timely payment in compliance with the UK’s payroll legislation.
Are bonuses pensionable earnings?
Employers have the option to exclude bonuses from pensionable income.
Do pension contributions for a director of a limited company reduce corporation tax?
Yes, pension contributions reduce your company’s taxable profit and, therefore, your Corporation Tax.
Can I pay all my company’s profit into my pension pot so I do not pay Corporation Tax?
Directors’ pension contributions should be “wholly and exclusively” for business and adequate to the duties performed to be classified as deductible expenses. The company’s contributions also count towards your annual allowance, currently £60k, after which there will be a tax charge.
What does pension auto-enrolment mean?
It means that once an employee meets specific requirements, he or she becomes a member of a workplace pension scheme automatically without needing to ask to be part of it, whether in the past it was up to workers to request to join an employer’s pension scheme. It is an employer’s legal requirement to enrol eligible employees into a workplace pension scheme.
