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Administrative duties could be tedious and time-consuming. Hence, we always recommend that time is spent doing other obligations in the business. While we are fully aware that prompt settlement of staff and other expenses related to their operations is essential to keep motivation alive, we are also aware that any delay could be demoralizing. Payroll is an important aspect of financial accounting and it cannot be taken for granted that it requires a lot of record keeping. Although it may carry different definition across many business enterprises, contained in the payroll program is up-to-date information about employees critical to accurate payment. This information includes recent pay rates, hours of work and overtime pay, amount of compensation due to each and other deductibles.

Payroll helps to know the actual amount due to each employee after income tax and other deductibles that have been taken out.

Payroll is affected by some fluctuating variables. Thus; payroll changes from one period to another.

Our long years of experience with clients who contract the obligation to us have shown that outsourcing is the best option in order to enjoy accurate accounting. Although there is no certainty that it would not be prone to error it is certain that errors are minimal.

Nordens has the appropriate payroll software system that you can rely on to deal with your software programs. Our team of expert accountants and tax advisors has the right mental resources to help you execute collating of employees information and even accurate calculation of pay. Nordens does the following on your behalf:

• Gather and collate employee information using necessary forms

• Compile necessary payroll information depending on your processing method. Payroll information includes the rate of pay and overtime pay. We will, on your behalf, put in place a clear process that will enable tracking the specific hours for which employees work daily. This compilation could be daily, weekly, bi-monthly or monthly. We use payroll software instead of a spreadsheet. Our clients have always remained with us and even recommend us because of constant update they get from us about payroll information.

• We will estimate gross wages for each employee at the end of each day’s work. This depends however on the system of payment that your business adopts. We also do this using accounting software.

• We will calculate payroll taxes. This is one aspect why most of our clients come to us. Not only does it help your business save money, but time can also be duly invested in something else as well. As long as we are provided with employee data, we will make the calculations, remove deductibles and submit the report on net payments to you or paying your employees electronically on your behalf.

Whether you are a small business firm or a large one, it is recommended that you outsource payroll program to payroll companies. Managing it yourself is not a bad idea but due to its complicated nature, hiring out is advisable. At Nordens, our payroll software is reliable. We look forward to working with you.

Frequently Asked Questions

How do I pay tax and National Insurance (NI) due?

As long as you are receiving income that is above your personal allowance, you are required to pay tax. Usually, the allowance you receive personally is distributed through your pay list for the year so that your employer can deduct it before paying you. If eventually you are overcharged, a refund can be requested and vice versa. This method is described as Pay As You Earn (PAYE). Similarly, the National Insurance due is taken from your earnings based on how often you get paid. It could be distributed using weekly or monthly payment. You are required to fill forms in this respect with HMRC.

What is P35?

P35 used to be a form which contains details of total tax, Pay As You Earn and National Insurance (NI) which is deducted from the payroll of each employee. It is a yearly return filed by all company concerning every employee registered on the payroll during a tax period. There is a procedure involved in filing P35. However, the introduction of Real Time Information (RTI) has caused it to be out of use since 1 January 2019. Now, it has been replaced by the Full Payment Submission (FPS) and Employer Payment Summary (EPS).

What is the difference between a P45 and a P46?

A P45 contains the summary of an employee’s salary and the tax which has been paid across the previous financial year. It is issued when an employee leaves a job and it is required in order to take up another job. It is necessary to submit this form to the new employer in order not to be taxed wrongly. On the other hand, a P46 is filed by an employer in another job in instances when a new employee does not have a P45. P46 is used also by a first-time employee. By regulations, an employer must complete and fill the first section of the form before the employee’s payday.

What information do I need to process an employees pay?

Being able to process and settle employees pay depends largely on the quality of the record keeping. This does not mean underpaying or overpaying employees cannot occur even with an adequately kept record. Information needed is:

• Employer details like nature of the job, employer salary account, bank code, position and employer branch, among others.

• Salary details like default salary, maximum payable amount, employee salary bank account, bank code and special duties and method of payments, among others.

The above and every other necessary information can be filled out by concerned parties on a form.

When paying an employee, what is the cost to the employer?

Usually, employers pay more than basic salaries to the employees. The employees may not even be aware that there are other costs involved. Some of the costs are broken down below:

• Hiring costs. Even before they become part of the organisation, a cost is acquired on the recruitment process. For instance, a company has to hire another recruitment firm to handle the process of getting the best sales representatives for it, among others.

• Tax. It includes social security, unemployment and medical taxes.

How do I pay HM Revenue and Customs?

You are required to pay HM Revenue and Customs for employer’s PAYE and National Insurance (NI) as part of your running payroll every tax month. Payment process can be carried out using different methods such as Credit card, Cheque, Internet payment service and even over the phone. You should, however, be aware that there is a penalty for not paying in full or on a specified date. An exception can only be accepted if you have not cleared employees’ payment in a particular tax month. Payment process can be carried out using different methods.

Beyond Accountancy

At Nordens we're more than just accountants, we're business experts who can help you achieve the biggest goals.

Nordens Strategic

Our specialist strategic division at Norden’s boasts some of the leading entrepreneurial business minds in the country. They cater towards delivering consistent success stories for businesses looking to achieve all their goals and more.

Through highly tailored guidance, coaching and advice, Norden’s Strategic are able to define exactly how your business can attain new levels of success.

Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we steer you along the path to greater future.

Accounting 2 You

Every business, no matter how big or small, needs to make the right decisions. How to best manage your accounts can put huge question marks over your business. Accounting 2 You are here to take that away and provide all the answers you need.

Our bookkeeping branch offers a fully inclusive, comprehensive service that they can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of individuals and small businesses.

With experts in payroll analysis, credit control and financial recording, Accounting 2 You will lead your business efficiently and with a real purpose to help you grow and prosper.

Voted as EXCELLENT - 9.9 out of 10 based on 164 reviews

Chris Dyer

Director - Metro Bank

Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.

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Jamie Brown

Co-Founder - Chicmi Limited

Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.

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Simon Rose

Director - Rose Opticians

I have been using Norden Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation

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Rebecca Bossick

Founder & Director - Physio LDN

Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.

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James Aconley

Principal - Pauline Quirke Academy

Great accountants, always available to offer advice. The team have transformed my business.

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Christopher Wilce

Founder - Dataphone

Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.

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Dave Hodges

Director - Linekers

Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!

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Tony Charles

Founder - Foundation Sports Limited

A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.

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Peter Horlock

Managing Director - Prime Time Boilers

I have been with Nordens for many years now and they are a great accountants.

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Simon Cushing

Founder - Vivid Finishes

We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.

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Andrew Martin

Managing Director - AMD Interior Architecture

Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.

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James Robinson

Director - Forma London

Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!

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  Why I Founded Nordens
Accounting 2 You

In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier, the difficult part was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.

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Mark Norden

We're Professionally Certified

Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). They follow the bye-laws, regulations and ethical guidelines of the ACCA and we are an ACCA accredited employer. We are also accredited by Professional Passport for our Umbrella and accountancy services.