What is Single Touch Payroll? | The Most Comprehensive Guide

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2024-07-13 05:41:40 - Translate -

https://www.protaxaccountant.co.uk/post/single-touch-payroll

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Overview of Single Touch PayrollSingle Touch Payroll (STP) is a modern digital payroll reporting system that has transformed how UK employers report their payroll information to HM Revenue and Customs (HMRC). The system mandates that employers send their payroll data to HMRC simultaneously as they process their payroll. This initiative aims to streamline payroll reporting, reduce paperwork, and ensure that tax and National Insurance Contributions (NICs) are recorded more accurately.The Evolution

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