Becoming an Employer?
First published: 1/21/19
Last Modified: 3/20/19, 12:06 PM
Setting out as a new Employer this year? Here's how to get started...
Starting your own Business is daunting at the best of times. You end up being a, jack of all trades... you're Marketing, you're Sales, you're the Office Manager, you're the Telephone Receptionist, and if you're taking on employees, you're Payroll.
When you're an employee, it seems straight forward, you work, you receive a payslip and you get paid. But as an Employer you need to navigate a number of procedures and regulations.
To help get you started, we've come up with a short list of main action points, helpful hints and links, and options available to you...
- Review Health & Safety - Health & Safety at work needs to be considered, and the working environment needs to be suitable for Employees. You can get more information Here.
- Look into Workplace Pensions - Discover your employer responsibilities for providing a Pension scheme to your employees under Auto-Enrolment. Even if you have just 1 employee, you have Auto-Enrolment responsibilities. Find out what you need to do Here.
- Look into Employers Liability (EL) insurance - Your cover should insure you for at least £5million and come from an authorised insurer. You can find out more information Here.
- Look into how you're going to run and submit your Payroll - There are a number of options... Use HMRC's free PAYE Tools (for fewer than 10 Employees) and run the Payroll yourself (inhouse) HMRC Tools; Purchase Payroll software and run the Payroll inhouse; or Outsource your Payroll to a Payroll Service provider.
- Register as an Employer with HMRC - You will require a PAYE reference number and an Accounts office reference number for submitting your Payroll and making payments to HMRC. You can Register Here.
But don't worry there is support out there for Employers, even if you choose to process your Payroll inhouse.
We hope you found the above information useful.
If you need any further assistance or information, please fill out our Contact Us Form