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Yes, GBM Payroll deducts tax and national insurance contributions from employee wages. These PAYE payments are paid on behalf of the employees to the HMRC.
GBM Payroll gives its temporary client staff the option to choose if they want to have paid holidays. If staff will like to have paid holiday, they must be prepared to make deductions at source.
GBM Payroll gives its staff the option to choose if they will like to pay into our approved private pension scheme. Client staff can register into the plan and have payments deducted from their salary paid straight into the plan.
GBM Payroll pays statutory sick pay (SSP) in accordance with procedures in place set by HMRC.
Our client staff receives pay advice for every pay period, have access to their payment summary, also get issued with P60s and P45 where appropriate. We also keep client records for six years.
Yes GBM Payroll liaises with HMRC on behalf of its client staff, submitting PAYE information and payments, also altering tax codes and issuing statutory forms as required.
Yes, self employed will be eligible to pay reduced Class 2 National Insurance contributions of £2.40 per week. Also any taxable profits above a certain figure will trigger Class 4 contributions. However there is no liability for employers National Insurance contributions.
Yes – Self employed individual are solely responsible for paying their own tax liability, A self-employed person’s tax is calculated by deducting business expenses from the amount of income. We can negotiated a nominal fee that will produce year end figures for their self assessment.
No, Our service is perfectly safe and legal we conform to all of the relevant tax rules. Whilst we believe that the contractor’s tax liability will be greatly reduced. They will still be paying tax having completed a self assessment.
Managed Service Company regulations do not apply and with respect to IR35 the Revenue has confirmed “It will not be necessary for clients to check whether the legislation applies when they enter into a contract with the intermediary or to conduct new checks on the status of the intermediary. “ GBM Payroll is recognized by the Inland Revenue as an intermediary company. Accordingly no client or agency can be held liable for any PAYE or NI contributions.