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Taking on your first employee: Part 3 HMRC & Insurance

Wages and Wage Slip

Taking on your first employee: Part 3 Registering with HMRC & Insurance

In this weeks’ episode it is the third part of the mini series focusing on taking on your first employee and the considerations which apply with taking on any new employee. This week paying the employee & covering your business.

In this episode I will cover:

  • When you need to register as an employer with HMRC;
  • An easy way to check the minimum requirements;
  • When to register;
  • What Real Time Reporting is;
  • How to submit your monthly reports to HMRC;
  • What software is available to assist with this;
  • What the minimum insurance requirements are;
  • What the penalties are for failing to have the correct insurance.

Action Points

  1. Ensure that you check if you need to register as an employer;
  2. If you need to register, do so before you make the first payment to your employees;
  3. Obtain employers liability insurance from an authorised insurer.

Helpful Information & Links

Check if you need to register here: www.gov.uk

 

Please vote for the podcast in the New Media Europe Podcast Awards 2016

Click below and scroll down under the Best UK Podcast Award and vote for the Employment Law & HR Podcast

http://newmediaeurope.com/2016/nmeu-awards-2016-stage-1/

Need Software for recording your HR information? Check out the  HR Harbourfor more information

 


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Would you liAdvice neededke advice about your situation?

Appointments are available on the telephone or via Skype throughout the UK.

Alternatively I offer face to face appointments on the Isle of Wight, in Eastleigh, Southampton, Fareham, Portsmouth, Winchester and surrounding areas in Hampshire.

 

 

 


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The information contained in this Podcast and post is provided for guidance and is a snapshot of the law at the time. It is provided for your information only and should not be used as a substitute for obtaining legal advice that it specific to your particular circumstances.

The guidance should not be relied upon in any decision making process. It is strongly recommended that you seek advice before taking action.