Our Services

Payroll

Payroll is a vital part of any business’s administrative responsibilities, but is often time consuming and tedious. At Futuristic Payroll Services we are dedicated to providing a bespoke, efficient and accurate out-sourced payroll service.

Whatever your payroll needs, we’ve got everything covered:

1. All pay periods: we offer weekly, fortnightly, 4 weekly, monthly and quarterly payrolls to suit your needs.

2. All types of pay: basic, overtime, holiday pay, sick pay, statutory maternity pay, pensions, student loans, etc.
3. All payment methods: from cash to BACS.
4. Departmental breakdowns provided.
5. Payslips: production of and distribution to each employee.
6. Files kept for each employee: on all pay matters.
7. HMRC registration and on-line filing: we register all our clients with the HMRC using our Agency Number. This means we can file all documents online, on your behalf, to meet all of HMRC’s requirements, including P45, P46 and P35. We also field any queries that the HMRC might have, direct.
8. PAYE registration: any new clients that we take on who are new employers, we register the business for PAYE on their behalf.

Workplace Pensions

Futuristic Payroll Services will administer Pension Schemes for our clients, if required, which consists of everything from set up including the pension enrolment of employees, reporting to the pension regulator and dealing with the process of postponing employees.

You, the employer have to pay in too, and so does the Government (through tax relief).

It is compulsory to automatically enrol your employees into a Workplace Pension if they are aged between 22 and state pension age, earn more than £10,000 per year, and work in the UK.

Real Time Information

It is intended to improve and streamline the flow of payroll, National Insurance and taxation information between employers and HMRC, by requiring information to be submitted BEFORE staff are paid, regardless of whether they are paid weekly, fortnightly, 4-weekly or monthly. You could call it the introduction of real time payroll.

All businesses are required to comply with RTI rules and it’s your responsibility to make sure that your company is on board, or you may suffer hefty penalties, for non-compliance. In addition, any amendments to payroll require a supplementary RTI, showing the corrections, to ensure that the payments for your companies PAYE are calculated correctly.

P11D

Benefits in Kind reporting is a mandatory requirement for all companies that provide their employees with extra reimbursements.

We have found that many companies are not aware that a P11D form has to be completed for any employee that has received benefits.

This task is another time-consuming burden, that detracts from the day-to-day running of your business.

Company benefits that need to be accounted for include:

1. Company Car
2. Medical Insurance
3. Petrol Allowance
4. Living accommodation
5. Company Loan
6. Subscriptions
7. Home Telephone