Operating PAYE

[Ganesh]

Hi All,

I am a IT contractor operating my own ltd co. (wife = director and me = co-sec). Our accountant is processing our PAYE so far and currently we are paying £50 + vat for each month. We are looking to reduce this fees, which seems very high. With regards to this, I wish to ask a couple questions to other experienced people out here.

1. Can we do this ourselves? somebody posted here that we can do this with excel or staroffice or pen/paper etc. If this is possible, then can you point me in the right direction, please.

2. I noticed the website www.thepayrollsite.co.uk, who offer to do the PAYE processing for £5+vat per month. Have anyone used this people before and what is your experience / recommendation?

3. What about electronic filing of P14 and P35? www.thepayrollsite.co.uk says this is included in heir £5 + vat fee.

Comments most welcome. Please correct me if i am wrong anywhere. or if you think £50 +vat is reasonable or cheap and we are better off going with the current accountant.

Thanks
Ganesh.

[MrsGoof]

I'm sure the £50ppm to your accountant is not just for PAYE. I would hope it covers CH filing, preparing accounts and advice.

The PAYE thing ir really very simple, everything you need is on your employers pack CD.

I hope malvino is in a good mood to day else your in for a right kicking

[Fleetwood]

you're

[Lockhouse]

I'd say £50 per month is cheap. I pay well over double that.

[Ganesh]

I'm sure the £50ppm to your accountant is not just for PAYE. I would hope it covers CH filing, preparing accounts and advice.

The PAYE thing ir really very simple, everything you need is on your employers pack CD.

I hope malvino is in a good mood to day else your in for a right kicking

Hi,
thanks for the quick reply.
As far as I know, £50 is only for operating PAYE, becuase he is charging us separately for CH (hope you mean companies house here) filing of £15+Vat + £15 (disbursement ie fee to CH)
Also he is charging us separately for preparing accounts. Last year he charged £1000 for this. But i found a lot of silly mistakes in the same and I had to keep going back to him before we sign it off. But after acknowledging our meticulous effort, he still charged us another £500, thus ending up paying £1500 last year. This year though for the 1st round itself, he had sent a bill £1800/-, which we recd yesterday. Not sure how many rounds we will ahve to go back to him and how much more he will charge us.

This is another area, I was planning to reduce the cost, but was saving this for another thread.

With so much charges, it seems it is better to go to an umbrella company.

Regards,
Ganesh

[Ganesh]

I'd say £50 per month is cheap. I pay well over double that.

Hi Lockhouse,

do you still pay other fees for CH filing, annual accounts preparation etc?

[simondolan]

You could outsource the PAYE, but you'd still be left with the rest of the tax and accounting.

Better would be to choose a decent accountant offering an all inclusive package - recommendations are on this site if you do a search, and of course we'd be happy to hear from you!! You shouldn't be paying much more than £1000 a year for everything though.

[Ganesh]

You could outsource the PAYE, but you'd still be left with the rest of the tax and accounting.

Better would be to choose a decent accountant offering an all inclusive package - recommendations are on this site if you do a search, and of course we'd be happy to hear from you!! You shouldn't be paying much more than £1000 a year for everything though.

Thanks Simon.

I will keep you guys in mind.

cheers

[MrsGoof]

Ganesh sounds like you may need to move away from your accountant, there are serveral reccomended here (do a search) or just look at the previous post.

I do my own PAYE it takes about 2 minutes a month.

[Ganesh]

Ganesh sounds like you may need to move away from your accountant, there are serveral reccomended here (do a search) or just look at the previous post.

I do my own PAYE it takes about 2 minutes a month.

Hi MrsGoof,

How do you do it? Do you use any software like quickbooks?

Also how do you get the PAYE cd rom? Looks like it got delivered to the accountants office as the co reg office is at his address. Can we ask hmrc to send us another copy?

Regards,