Best Bookkeeping Services in Longbridge

We onboarded a new client this week, and as well as doing our usual forensic review, we duplicated the payroll, as we sometimes do, so that the company would have a full tax year on our system. This allows us to have a better understanding of the company’s payroll and the requirements that they have for tailoring our service to fit with their requirements. Having done this an issue with their pension figures came to light. The payroll had previously been worked manually, by the Director, using the HMRC online tool. In doing this he had inadvertently allocated the pension payments to the wrong pay period and some weeks had been below the legal contribution, whilst other weeks had been way over the legal contribution. Whilst any inspection by the pension regulator would reveal the pension payments as non-compliant, we are happy that overall, the payments will balance each other out and the total required pension payments would be in order. (We have made notes to this effect and should an issue be raised by the pension regulator, as part of our service, we will deal with the pension regulator on behalf of the client.) Moving forward, we have updated our system and submitted the correct pension figures for the last pay week and subsequent contributions will now continue to be paid accurately. Unfortunately, this mistake is all too easy to make and could cause financial hardship to a company if not caught at an early stage as fines from the pension regulator can be substantial!