Tax and Legal

Payroll Tax, PAYE and Employee Benefits Administration

Payroll errors are unusually expensive because they repeat every cycle until somebody notices, and the correction reaches employees, the revenue authority and the accounts at the same time. This course covers getting it right. Delegates work through employment income and what is taxable, including the items commonly missed, and the mechanics of a pay as you earn deduction through a pay period. Benefits in kind are covered individually: vehicles, housing, loans, medical cover and allowances, with the valuation rule for each. Statutory deductions beyond tax are addressed, including pension and social security contributions. Terminal payments, severance and leave pay follow, since these are where most disputes arise. Reconciliation between payroll, the general ledger and returns is covered. Employee and contractor classification is addressed. The course closes on records, on audit by the revenue authority and on correcting a historic error.