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Payments to make after running payroll
Payments to make after running payroll
Rebecca Russell avatar
Written by Rebecca Russell
Updated over a week ago

Now you've run payroll, it is time to think about the different payments for that month. The dates at which these payments are due will differ depending on who you are paying and how you have set up to pay them.

There are 3 main payments that will need to be paid every month:

Employee salaries

You'll have decided how, and when, your employees will be paid and PayFit has calculated the amount to pay each employee.

If you require a bank file to make these payments, you can set up your payment file type in your PayFit account. For more information, please refer to our Help Centre article.

If you use Telleroo, then PayFit can upload this file for you. You must ensure you have deposited sufficient funds in your Telleroo account for the payment to be processed. For more information, please refer to our Help Centre article.

Pension provider

You will have arranged a payment due date for your pension provider to take the contributions from your account.

NEST

The contributions will automatically be taken from the arranged payment source on the payment date you have set.

People's Pension

You can set a payment date for payments to be collected automatically. These payments will be taken even if there are no sufficient funds, and you can then credit your account at a later date.

Smart Pension

Once your Direct Debit with Smart Pension is active, they will automatically attempt to take payment on the 7th of the month after the pay period end date.

Smart pension doesn't take the contributions of members who are in their opt-out period until they have reached the end of this opt-out period without leaving the scheme. If an employee's opt-out period ends between 6th-15th of the month, then their contributions will be taken on the 17th of that month, and the 27th of the month if the opt-out period ends between the 16th-25th.

Other

Most pension providers will allow you to set your own payment date, which you should be able to see within your pension account. If you haven't been able to set up one and wish to know when payments will be taken, please contact your pension provider.

HMRC

The total you are required to pay the HMRC each month is calculated by the income tax, student loan repayments and employer & employee NI you owe from the previous tax month, minus any reductions sent on an EPS (parental leaves, employer allowance and others).

PayFit will calculate this total for you. You can view it in the 'Payments to make' section of your PayFit account. You can also see a breakdown of the total by clicking on 'see details' on the right-hand side.

The deadline for HMRC payments is the 22nd of the month - you may be fined if you miss this deadline. Additionally, make sure to pay this bill two business days before the 22nd to allow HMRC to process the payment.

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