PAYE/Payroll



What is PAYE: PAYE is the most common method of paying income tax.

Why do I need PAYE: If you have fulltime or part time employees, you must registered as PAYE using HMRC website for Income Tax purposes.
 

How do I pay PAYE: This is the mechanism in which your employer or pension provider deducts Income Tax and National Insurance contributions from your wages or pension before paying you. 

What do I know how much Income tax I pay? Your employer is told how much to deduct based on your tax code.

What is a tax code: HMRC uses tax codes to determine how much tax and National Insurance you should pay each year.

When to PAY PAYE: You can set the PAYE frequency to monthly or quarterly.

Need help or still have a question? email info@camberleyaccountants.co.uk