After March 2020, all employees of our Payroll client companies should use myePayWindow to access their payslips.
ePayslips, the platform where the employees of our client companies can access their payslips, will be retired from use after March 2020 and replaced by a new platform, myePayWindow.
myePayWindow is already accessible and we encourage our clients and their employees to move over to the new platform. If you are still using the old platform ePayslips, please contact the Payroll Department on email@example.com who can issue you with a registration invite to myePayWindow.
Previous payslips, P11D’s and P60’s will be accessible under the new login. You can access both platforms on the Cloud portal login page until the end of March 2020.
Many of our clients entrust Goodwille to handle the complete payroll processing and administration. As your Payroll provider, we make sure you comply with UK regulations and meet all your obligations as an employer. Our Payroll team keeps your payroll running smoothly and ensure that employees are paid accurately on time, every time. Read more about our Payroll services here and contact us for more information.
If you’re looking to expand your international fintech business or start up a new venture in the London area, you are probably already aware that London is known as the world’s fintech capital. It is an attractive startup location for foreign businesses wanting to expand internationally, and the most popular destination for Asian and American companies expanding into Europe.
Goodwille specialises in assisting international businesses set up companies in the UK. Check out our advice for setting up a fintech company in the UK:
UK business climate
Despite Brexit, the UK startup scene is thriving and many businesses still look to London to launch European operations. The UK government offers comprehensive guidance for overseas businesses thinking about launching in the UK.
Setting up a UK company
Setting up a UK company is a pretty straight-forward and quick process. Company incorporation is done via Companies House, UK’s registrar of companies, which is responsible for holding information about all companies in the UK. Albeit the incorporation process in itself is simple, we recommend you seek specialist advice to make sure your company is set up with Articles of Association, minutes and other legal essentials. Goodwille’s Corporate Legal department can help with setting up a UK entity and help with ongoing compliance for your UK company.
If you plan to employ workers in your company, you will also need to be registered for UK PAYE. PAYE, pay-as-you-earn, is the system used for the deduction of income tax and National Insurance contributions. The UK is in the process of making tax digital, so it is important to opt for a payroll provider that can meet all required obligations, now and in the future. Statutory pension contributions may also need to be deducted from employee salaries and your business is likely to be required to contribute towards employee pensions, too. Goodwille specialise in payroll and pension and can answer any questions about payroll or pension requirements in the UK.
Potential grants or funding
The UK offers access to a mature and streamlined business grants and funding sector. London fintech providers could well qualify for R&D tax credits or other funding awarded by Innovate UK.
Goodwille can help you launch your London fintech business. We offer legal, finance, HR, payroll and insurance advice to ensure your new company meets all UK requirements. Get in touch with us today to find out more.
The UK labour market has an international reputation for being flexible and employer-friendly, particularly in comparison with its European peers. However, there are a number of laws, customs and idiosyncrasies that it’s important to be aware of if you’re setting up in the country for the very first time. In this guide, we’ve outlined a few things that you should be aware of when you’re recruiting in the UK.
Meeting tax obligations for your employees
Unlike some other countries, most UK employees don’t have much responsibility for their own tax affairs. Instead, their employer deducts tax and some other items from their salary before it is paid for them. This will require you as their employer to work with HMRC to ensure that the correct amounts are paid and that you remit these sums to them on a regular basis. You’ll then have to give your employees a P60 form, which is an annual summary of the amount of tax that you have paid on their behalf.
Tax can be a complex business in the UK. VAT obligations vary significantly depending on your sector and the particular arrangement you have with HMRC. If you aren’t confident, it’s well worth getting an expert to look at your setup to make sure that you don’t get caught out.
Minimum wage legislation
The UK minimum wage is split into a number of bands depending on whether an employee is an apprentice and how old they are. That means that the wage ranges from £3.50 an hour for an apprentice to £7.50 an hour for an employee aged 25 or over (known as the National Living Wage). The government has begun naming and shaming companies who do not comply with minimum wage legislation, so it’s vital that you get this right. Make sure you’re aware of what counts towards hours worked. You may be required to pay employees when they’re travelling between assignments for instance.
As with any country, the UK has a number of rules and customs that make it different from other markets. Trying to apply a model that has worked elsewhere to your UK operations could easily get you into trouble. Before you recruit your first UK employee, please ensure that you’re up to speed with your obligations. Check out our HR service offering here and get in touch with Goodwille today for further guidance.