More common payroll mistakes

close up of a person typing on a laptop

It’s precisely because the management of a company’s payroll is such a complex activity that so many businesses decide to outsource their payroll to a specialist firm such as Rapid Payroll. There are still plenty of mistakes that can be made, however, and here are just a few of them…
Not keeping to the deadlines of HM Revenue and Customs (HMRC). If you are currently handling your own payroll, then you will need to be sure that you are up to date with the submission of forms and the due payment of tax and National Insurance (NI), not least as there are heavy fines for failing to meet deadlines.
Not keeping up to date with the most recent legislation. HMRC’s PAYE system sees frequent updates which involve adjustments to the amount of tax and NI that it is necessary for an employee to pay. Choose Rapid Payroll, and you won’t have to worry about your staff members being charged incorrect amounts.
Failing to save records. It is a legal necessity for information that is related to staff payments and payroll to be kept for seven years. If, as it is able to do, HMRC asks to see this information at any point for audit purposes and you are unable to produce it, you could face a hefty fine.
Using an out-of-date filing system. Using an old-fashioned manual system means that you risk the loss of vital documents. This can result in an inaccurate payroll that greatly inconveniences both your company and its employees, which is why you are advised to use an electronic filing system and scanned documents instead.

Accountants across Yorkshire

Our accountants are based all around the Yorkshire region, although we work remotely with clients nationally. If you are looking for accounting services in Yorkshire, you can find out more here:

Contact Us

Please call or email to arrange your FREE consultation for any of our services.

Meet the Team

We’re a modern, friendly and proactive accountancy service.

team member artwork


Signup for our weekly business newsletter and special offers!

Let's discuss how we can help your business

Our goal is to remove as much time and stress from the accounting and bookkeeping side of your business so that you can focus on what matters more to you.