Nov 10, 2024

HMRC Payroll Software Solutions for UK Businesses

As a business owner in the UK, staying compliant with HM Revenue and Customs (HMRC) payroll obligations is essential. Failure to meet these obligations can result in costly fines and reputational damage. That's why using an HMRC-approved payroll software solution is a must-have for businesses of all sizes. In this post, we'll explore the benefits of using HMRC-approved payroll software, focusing on Moonworkers.

Why use HMRC-compliant payroll software?

Automating calculations: Payroll software can automatically calculate wages, taxes, and deductions based on the employee's pay rate and other relevant information, reducing the likelihood of errors and saving time for the payroll staff.
Time-saving: Payroll software can save time by streamlining the payroll process, from calculating wages to creating payslips and submitting RTI reports to HMRC, freeing time for the payroll staff to focus on other tasks.
Keeping accurate records: Payroll software can keep correct records of employee payments and deductions, reducing the likelihood of errors and simplifying record-keeping, helping businesses to comply with HMRC regulations.
Secure and accessible data: Payroll software can keep employee data safe and accessible, providing easy access to the information needed for payroll processing, compliance, and reporting.
Reporting: Payroll software can provide a range of reports, including employee earnings reports, tax reports, and year-end reports, making it easier to manage payroll and comply with HMRC regulations.

Stay compliant with HMRC regulations.

Using an HMRC-approved payroll software such as Moonworkers.co.uk ensures your business complies with all HMRC payroll obligations, including includes duties such as Pay As You Earn (PAYE) Tax and National Insurance (NI) contributions. These obligations can be complex and time-consuming, but a reliable payroll software solution can make managing them more straightforward and less stressful.

Run payroll, pay your employees' salaries in one click

Timesheets approved? Nice! Thanks to our full integration with Stripe, you can choose to pay contractors through Moonworkers and save even more time.

Save time and increase efficiency.

Manual payroll management can be time-consuming, especially for businesses that employ hourly workers, such as part-time or casual staff. With Moonworkers, payroll management is streamlined, and you can easily calculate and process payments, generate payslips, and submit your RTI to HMRC with just a few clicks. RTI is a system introduced by HMRC in 2013 to improve the accuracy and timeliness of PAYE information. Under RTI, employers must submit information to HMRC every time they pay their employees, rather than once a year, as was previously the case.

With HMRC-approved payroll software such as Moonworkers, employers can submit their RTI information, such as Full Payment Submissions (FPS) and Employer Payment Summaries (EPS), directly from the software. This means you don't have to manually input the data or worry about making errors when submitting the information. It also means staying compliant with HMRC regulations and avoiding penalties or fines.

Reduce errors and avoid costly mistakes.

Manual payroll management is prone to errors; even a tiny mistake can have significant financial and legal consequences. However, using HMRC-approved payroll software such as Moonworkers can help reduce errors and avoid costly mistakes. The software is designed to automate calculations and ensure that all data is accurate and up-to-date.

Access to expert support and advice

At Moonworkers, we understand that managing payroll can be daunting, especially for small business owners. That's why we offer expert support and advice to all our customers. Our team of experienced professionals can help you with any queries or issues and guide you on staying compliant with HMRC regulations.

Flexible pricing options

At Moonworkers, we offer flexible pricing options to suit your business size. Whether you're a small business owner or a large enterprise, we have a pricing plan that works for you. Our pricing plans are transparent and affordable, with no hidden fees or charges.