FSS

Final Settlement System (FSS)
Employees pay income tax and National Insurance (NI) on their salary as they earn it. The employer is responsible for making the deductions and forwarding them to the Inland Revenue. This is done on a monthly basis.

What do you need to do?
As an employer, you must know how to calculate the correct FSS and NI deductions. You will need to be aware of the various allowances and limits that exist. In addition, Fringe Benefits must also be accounted for through FSS.

There are deadlines for various forms to be submitted and penalties may apply if such deadlines are missed.

How can Grant Thornton help?
We have considerable experience in running payroll services for clients and dealing with all the relevant issues. We can either manage your responsibilities for you, or we can guide and remind you.