Facilitating the initial set up in conjunction with the Practice, utilising your own payroll software back up data (where possible) and bespoke Excel spreadsheets. This is undertaken by our specialist ‘New Business Team’ which is dedicated to ensuring a smooth transition to Medic Payroll Team.
Medic Payroll offers different packages depending on your business nature and needs.
- Fortnightly and
- Monthly Payrolls
What is the difference between a P45 and a P46?
You get a P45 when you leave employment and you complete a P46 when you start employment should you not have a P45 from a recent previous employer.
Your P45 will show various pieces of information including your PAYE reference code and how much you earned and paid in tax during the tax year. Your P45 will be in 3 parts. When you find another job you should give parts 2 and 3 to your new employer. This will allow them to see how much tax you have paid and put you on the correct tax code. Often people lose their P45 or forget to give it to their employer. When this happens the employer is forced to put you on an emergency tax code which often means that you end up overpaying tax until you claim a tax refund at the end of the tax year.
Why Clients Choose Medic Payroll
Medic Payroll offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.
All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.
Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.
What information do I need to process an employees pay?
The only information you need to set up a new employee on the payroll would be:
- Full name
- NI number
- Date of birth
- Start date
- Payroll frequency
- Tax code
- Job title
- Annual salary or Hourly rate of pay