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wages query

tinajanine65tinajanine65 Settling In NicelyRegistered Posts: 21
I know this may be a basic question, but i would appreciate some help.
A client has give us P60's and form P35 for all employees during the year. On the accounts can the total wages figure be worked out by adding the gross wage figure together and adding to that the NI figure paid during the year? Not using the Tax amount paid as it is already included within the gross wage.

Comments

  • DeanDean Experienced Mentor DevonRegistered Posts: 646
    Essentially what you're saying is correct.

    The wages figure shown in the accounts would be gross wages plus the employers NIC element. There can be some variants but that's the basic.

    Don't forget that the 'accounting year' can be different from the 'tax year' so you have to make sure you are matching like with like.
  • tinajanine65tinajanine65 Settling In Nicely Registered Posts: 21
    Wages query

    Thanks for that Dean, very helpful in my time of need!!!
  • Hasan.AhmetHasan.Ahmet Feels At Home Registered Posts: 87
    Most accountants call that wages & NI.
    As the ee's NI is included in the wages it means wages & eer's.
    Also depends what accounts and for what purposes.
    In different circumstances you could call it staff costs and include NI and other staff related costs too. So decide first.
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