PAYE & Payroll Guide

A Beginner's Guide to Payroll

NOTE : This guide is for guidance only. It is not comprehensive and has no legal force

In the beginning...

...There was the Inland Revenue and when starting your own business, the IR must be one of the first organisations you contact to register yourself as self-employed or as a first time employer, regardless of whether or not you already send in a tax return!

Failure to register within the first full three months of self-employment could result in a £100 fine. In addition, if you don't register, you will not be paying tax and, therefore, could be liable for further penalties.

For further information and to register call the Help-line for the newly Self-employed on 08459 15 45 15 or log on to the website www.inlandrevenue.gov.uk

The IR is also an incredibly helpful source of information. When you register, they will send you a "Starting Up in Business" guide, which explains and takes you through the intricate maze of tax obligations you will need to fulfill personally and professionally as an employer. For any information on taxation matters the IR should be your first port of call.