The Association of Accounting Technicians (AAT) is encouraging people to consider pursuing a career in payroll accountancy, and for businesses of all sizes to recognise the benefits of using licensed payroll accountants.
Payroll accountants are responsible for tasks including recording wages, working out bonuses, calculating and deducting taxes for employees and calculating employer tax and liabilities.
They may also be involved in implementing new payroll systems and notifying HMRC of changes to employees’ circumstances – including new starters as well as those who are retiring, leaving the company or taking parental leave.
Additionally, businesses of all sizes can recognise the value that a licensed payroll accountant can bring to their company. This includes up-to-date knowledge of legislation on tax and pensions, increases in business regulation and the importance of compliance.
Steven Drew, head of markets and products, AAT, said: “Payroll accounting is an essential part of any business, ensuring that everything runs smoothly for employees to be paid on time and HMRC is kept up to date of any changes – particularly during the current period where businesses are facing a rapidly changing situation as the UK economy begins to recover from the impact of the pandemic.
“We would encourage anyone who is considering a career in payroll accounting to look at AAT’s bookkeeping qualifications. AAT qualifications are open to everyone – regardless of age, background or previous qualifications – and offer a recognised and respected route into accountancy and bookkeeping roles.”