The Level 2 Award in Payroll for Business
Overview
Learners will gain knowledge and skills to process the payroll under Real Time Information (RTI) regulations and keep accurate payroll records.
The qualification is made up of:
Online Knowledge Test
Examination
Key Information:
50 GLH (Guided Learning Hours)
100 hours TQT (Total Qualification Time)
Who is this qualification for?
After achieving the IAB Level 1 Award in Payroll for Business, Level 2 Award in Payroll for Business qualification is the next level and is suitable for the candidates who aim to attain a regulated Level 2 qualification and extend their previous knowledge about Payroll to next level.
The qualification is equally suitable for candidate who already have practical knowledge and expertise and want to enhance their payroll skills with a regulated qualification to meet the industry benchmark.
Candidates who are considering a career as a self-employed practitioner will find the course perfectly suitable, business owners will find it helpful as well to manage their own payroll for their employees.
What you’ll study
This qualification is made up of the following units:
- Learn the payroll processing, the HMRC legislation, employee on boarding processes and other related forms and disclosures
- Be able to process the information required to prepare an employee payroll record
- Understand elements that constitute gross pay and be able to calculate Net payment
- Understand the principles of Statutory Additions and deductions like PAYE and NIC legislation and other statutory obligations when processing the payroll like repaying Student Loans through the payment every month
- Processing and submitting payroll information and understand the procedures to adopt when dealing with a leaver
- Understand the time management and the need to complete period end payroll procedures and meeting the deadline within allocated timescales
- Using payroll software, Be able to set up and maintain employee records, company and pension schemes
- Be prepared to process gross pay for different payroll periods and compute the payroll accurately for different periods using HMRC Compliance, company procedures and deadlines
- Be able to produce statutory and non-statutory reports
- Be prepared to back up and restore data when required