For some clients we operate a banking service to compliment the payroll processing service.
For these clients, they make one single payment to us each month (we calculate the value monthly). From this single payment, we then make payment to: • Employees for their net pay • HM Revenue and Customs for income tax, employee and employer National Insurance Contributions, and deductions from pay for Student Loans and Post Graduate Loans • Pension Provider(s) for employee and employer pension contributions • HM Courts & Tribunals Service, Child Maintenance Service, local Councils etc, for deductions required to be taken from pay • and also pay our own monthly invoice
This service enables the employer to make just one sterling transaction a month for their UK payroll, and leave it to us to process all the payments. To assist with this, we operate a dedicated ‘client’ bank account with our bankers.
Note that some pension schemes require that employee and employer contributions come from a UK bank account.
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