Payroll and, in addition, personnel administration are the biggest and most time-consuming challenges facing expanding organisations. Grant Thornton’s outsourcing teams can manage these commitments on your behalf, allowing you to focus on what you do best – growing your business.
Nicole E. Lawrence
Tax systems are constantly changing and payroll is therefore one of the most challenging responsibilities for companies, while managing personnel commitments could also be time consuming. Our solutions are designed to cut your costs and increase quality and efficiency. Our services include:
- The monthly calculation of the statutory deductions (i.e. Income Tax, Health Surcharge and National Insurance) in accordance with the Laws of Trinidad and Tobago
- Ensuring that all remuneration and statutory deductions are remitted to employees’ bank accounts and local government authorities on a timely basis
- Preparing and issuing of monthly pay slips to the employees covering monthly salary and deductions of every employee
- Preparation of accounting journals with the relevant account allocations including the company contributions
- Preparation of TD4 slips for the employees and the TD4 summary on an annual basis for submission to the Board of Inland Revenue
- Obtaining the relevant registration of employees with the necessary authorities
- Facilitation of filed audits from the respective statutory agencies.
- Severance packages
- Employment tax issues
- Pensions and benefits
- Payroll data processing and remittance
- Reporting of statutory deductions
- Maintaining personnel records
- Provision of payroll reports.