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Payroll Accounting (HMRC Reporting)

PAYROLL ACCOUNTING

Most of our client’s strategic goal include commitments to global expansion, centralising processes and team development - all of which may result in the implementation of various payroll hubs and complex management of Chart of Accounts. Thus, it is essential that your end-to-end payroll and financial processes, general ledger posting, and control account reconciliations are monitored and supported by specialists to avoid backlogs of unreconciled accounts and auditing issues

What We Do

  • Prepare sets of accounts for all types of business from small requiring IFRS 105 to large corporations requiring IFRS101 and 102 standards - from start to completion and filling.
  • Corporation tax advice.
  • Process capital gains tax and providing capital gain tax advice
  • Process VAT returns and assisting entities and individuals register for VAT.
  • Process self-assessments for sole traders, directors, members of partnerships etc. and making tax returns
  • Prepare ‘special’ accounts such as Solicitors, CIS and charity accounts.
  • Bookkeeping service.
  • Provide business advice on company formation and business plan.
  • Provide business with budgeting, budget monitoring, and cash forecasting services to guide business to achieve financial controls and meet targets.
  • How We Can Help You

  • Use accepted accounting practices such as UK GAAP, IAS, IFRS and current financial regulations to undertake all assignments.
  • Use different accounting and business modelling to provide the best tailor-made advice
  • Use required accounting software packages such as QuickBooks, Xero, Sage 50 and Excel to complete your work and make the required submission.
  • Liaising with you to explain financial information, answer queries and deal with questions from third parties such as HMRC and company house.
  • How You Can Benefit

  • Professional service with you at the centre.
  • Provide friendly and tailor service to suit you, making a boutique service to provide optimum service so that you can focus on your business.
  • Provide you with the rare benefit of reaching two highly sought services business and account service in one hub.
  • PROCESS MAPPING AND POSTING

    Our experts understand the demands and pressure payroll accounting has on your team and consequently your budgeting. We will offer you an effective action plan which would include your global payroll postings and reconciliations. This service will ensure that changes are dealt with promptly, and best practices and process catalogues are unified and implemented in each department. Our service will help to put in place processes to validate transactions by reviewing the entries for accuracy and authorise such things as payroll tax entries, withholdings and overtime (if applicable) to ensure that operations occur correctly. The reconciliation or balancing of payroll will include making entries to distribute payment to the appropriate cost accounts.

    OPERATIONAL EFFECTIVENESS AND READINESS

    We offer a unique responsibility matrix which includes; RACI model and unifying stakeholders processes with HR and payroll. Better concept in applying continuous improvement strategy, agility to payroll legislative changes and demands, understanding payroll and finance relationship, the importance of timely and accurate mapping plan per country, reviewing and understanding your payroll output reports provided by your Vendor, and being able to quickly identify and fix mapping and posting issues as they occur.

    WITH VPEF YOU’LL GET FAR MORE THAN A GENERAL GLOBAL PAYROLL TRAINING PROGRAMME:
    • Maintenance and support of international payrolls of all sizes and in any sector
    • Company profit extractions and dividends
    • Monitoring of SLAs
    VPEF ALSO OFFERS THE FOLLOWING SERVICES:
    • Control frameworks and payment disbursements
    • Data analytics and reports on global KPIs
    • Rewards and benefits margins
    • General Ledger, Journal and Chart of Account mapping

    You will obtain the expertise of our seasoned professionals who have your best interest at heart. We will ensure your payroll doesn’t cost a penny more than it needs to. We know our way around taxation and legislation in over 40 countries. VPEF offers full training courses on payroll and human resources, as well as other sectors that have an impact on employee satisfaction and smooth operation, such as GDPR.

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