Payroll is NOT Strategic!
But is the #1 financial duty you must get right
Your employees expect perfection and HMRC require compliance.
Are you up to date and compliant which each of the pieces of legislation?
Employment Rights Act 1996 (ERA): Sets out core employment rights like minimum wage, working hours, holidays, sick pay, unfair dismissal, and parental leave.
The National Minimum Wage Act 1998 (NMW Act): Defines the minimum wage an employer must pay workers based on age and location.
The Equality Act 2010: Prohibits discrimination in the workplace based on protected characteristics like race, sex, disability, and age.
The Working Time Regulations 1999: Sets out regulations regarding working hours, rest breaks, holiday entitlement, and night work.
Income Tax (Earnings and Pensions) Act 2003: Defines how income tax is calculated and deducted from employee earnings.
Social Security Contributions and Benefits Act 2016: Outlines National Insurance contributions (employee and employer) that fund social security benefits.
Finance Acts (Implemented Annually): These annual acts introduce changes to tax rates, allowances, and other tax-related regulations impacting payroll calculations.
Pensions Act 2008: Establishes the framework for workplace pensions, including automatic enrolment and employer contribution requirements.
Real Time Information (RTI) regulations: Mandate electronic reporting of payroll data (pay and deductions) to HMRC after each pay run.
Statutory Sick Pay (SSP) Regulations: Define eligibility and calculation methods for Statutory Sick Pay.
Statutory Parental Pay (SPP), Shared Parental Pay (ShPP) & Maternity Allowance Regulations: Outline eligibility criteria, calculation methods, and payment procedures for various parental leave schemes.
IR35 Off-Payroll Working Rules: Determine the employment status of contractors (employed or self-employed) for tax purposes, impacting potential tax deductions for deemed employees.
...and more!!!
New Changes in April
Decrease in National Insurance 8% from 6th
April 2024
Holiday pay legislation changes 6th January 2024
Paternity leave changes from April 2024
Parental Leave and Pay changes from April 2024
NMW & NLW changes from 1st April 2024
Bereavement leave changes 2020
Day one right to request flexible working April 2024
The Neonatal Care (Leave and Pay) April 2025
Compulsory Payrolling of Benefits from April 2026
Future proposals include:
Changes to age banding/eligibility for automatic enrolment (out for consultation)
Reporting of hours for all staff to HMRC via RTI (out for consultation)
For many finance departments, running payroll in-house does not make sense!
Payroll is onerous and never ending. The legislation changes frequently. Faster then you can keep up with.
The repetitive pressure of running weekly, fortnightly and monthly payrolls never ends. It is tiring for the finance team.
Running payroll in-house take resources away from the financial management of the business. Staff are tired up with the continuous grind of payroll and can not undertake more strategic tasks.
Your Payroll, Our Passion
Let us help you find fulfillment
Grow Your Business
You focus on running your business and we will take care of the payroll needs.
Take Way Stress
We will keep out to date with legislation and reporting and make sure your payroll runs
Energise Your Company
Your finance team can focus on strategic initiatives that add value to your bottom line
Let Cox & Co take care of your payroll so you can take care of your business & employees
Client success stories
The ss Great Britain Trust, a respected charity, is committed to preserving the iconic iron steamship that crossed the Atlantic in 1845. With over 70 staff and 50 volunteers, the Trust, and its trading subsidiary, faced a pivotal moment in 2009. They decided to expand the finance manager’s role, making an in-house payroll department impractical. Since then, Cox & Co has efficiently managed their payroll, ensuring smooth operations.
They decided to expand the finance manager’s role, making an in-house payroll department impractical. Since then, Cox & Co has efficiently managed their payroll, ensuring smooth operations.
We thoroughly recommend Cox & Co. They are professional yet friendly, and their flexible approach makes them a joy to work with. Outsourcing our payroll to Cox & Co. created a number of benefits to our organisation, including reduced workload.”
Julie Sienesi, Director of Operations & Finance
Post Address and Mail
Address
Unit 10 Londonderry Farm,
Willsbridge,
Bristol BS30 6EL
Get In Touch
Phone Number:
0117 9328444
