new ltd company - payroll & expenses

Hi All
Just set up as limited company. Myself & bus ptnr & 2 others, we are all employees of the co but I have a few qs regarding payroll & expenses.
Does anyone have a excel template for paying weekly wages? I've downloaded revenue tax deduction card but I just want something basic to work it out. I've checked online but all the calculators seem to work it out annually. Can anyone recommend a very inexpensive/easy to use payroll package for the new year? – we are not in a position to outsource at the moment.

Our main focus is to pay two oths first. I've heard its best to agree to pay ourselves min wage (if when/ cash is there) and then work out our paye/prsi returns based on this every mth? Is employer prsi (10.75%) payable on all of the wage (gross)?

Re expenses: I've heard “wholly & exclusively” for the business but what exactly does this cover – lunches, petrol, ph credit, tools, parking?
If you use own car/van, & you claim mileage – do you have to use civil service rates or can you agree a rate yourself (any idea what would be considered a reasonable c per mile?). Does mileage include tolls, petrol, maintenance etc or is this on top of mileage rate?

If use company van (co pay tax & ins) can you claim for petrol, tolls etc?

I know we need to get prof advice but this is really early days and we really just cant afford it right now. I'm just looking for some guidelines to start us off.

You would be best served in getting an accountant to talk to you face to face. There are a lot of questions there and some could lead to more questions.

There are plenty of new practices around that would be glad to come to an arrangement with you.


If you want to PM me with your location I may be able to assist you.

Hi Nuttybud

The whole area is a minefield - not sure where you are based - if you wish to PM me I could possible give you some pointers

Wages:
Have you registered all the employees of the company with Revenue, and have appropriate tax credits?
Actual wages calculations would depend on earnings to date, and individual tax credits allocated.
Proprietary directors are seen as self-employed. They pay Class S Prsi, and the company does not have to pay Employer's Prsi. (which is not always 10.75%, it's 8.5% where earnings are €365 per week, or below)
For next year I'd advise Collsoft Payroll, could even be worth it for this year, something like €140 plus vat.

Expenses:
Civil service rates, or lower, can be paid tax-free- keep all records. A "round sum" or higher rate and you're talking taxable. Or you can just refund all actual expenses.
I would take it that the civil service rate covers petrol, tax, repairs etc, but tolls and parking would not be included. Refund separately.

Good luck.

There is Payroll package that if you buy a licence now, it will last until November 2011 (and won't expire on 31 Dec 2010 like other packages). The cost is €130 per year. You can also download it to try it out for free, to see if you like it.

Unfortunately, as I'm associated with the product I am prohibited from naming it here.

For payroll Sage Quickpay has a version that is free for companies with up to 5 employees

For payroll I've used Payback for years. Simple to use and very good support via forum for user help.

Set up toll tags in the business name and issue to the employees, do same for fuel, get a fuel card account. It is far easier to keep track of and there are no lost receipts.