Revolut launches Payroll for salaries in the UK

Payroll is charged at £3 per active team member per month, and is available to all UK businesses.

Revolut has announced the launch of its new service, Payroll, designed to help companies make easy payments to their employees. The service is designed to be hassle-free and make payments easier, in just a few clicks, instead of an hours-long process.

„Salary calculations, taxes, pensions, pay runs and more are calculated for you and rolled up into one easy to use, intuitive app. And you can close those spreadsheets – we do the hard sums for you, even when you need to customise pay for anyone in your business. From financial first-timers to ace accountants, this is Payroll that works for everyone,” Revolut said.

Revolut made Payroll a simple process and the app will guide clients through each step of the process, from uploading critical payment-specific info to scheduling the payments according to contracts.

„Add your employees to Revolut Business, then sync their details with your payment info. We’ll calculate taxes, NI and pension contributions for you. All you need to do is set up automatic salary payments and tell us when you’d like them paid.  We’ll do the rest. No switching between software, no extra files to upload,” the company explains.

Any changes to employee tax codes, student loans, and more are synced with HMRC* daily , and Revolut update them for you automatically.

„So there’s no lengthy back-and-forth with HMRC – we ask them if any of your employee details need to be changed, and if they say ‘yes’, Payroll’s smart systems make sure it happens. And we automatically send your company’s Full Payment Submission every month, too, so HMRC are always kept up to date,” Revolut added.

„Award bonuses, pay freelancers, adjust deductions, and more. Easily make one-off changes to employee salaries, any time, and they’re instantly updated – for individuals and teams across your business.”

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*HM Revenue and Customs’ ( HMRC ) system to collect Income Tax and National Insurance from employment