1st.money Reviews

Based on checking the website, 1st.money appears to be a UK-based software provider specializing in payroll, HR, and accounting integrations for businesses of various sizes and industries.

Their core offering revolves around a “FREE+” tier that provides extensive payroll and HR functionalities for smaller businesses, with a clear pricing structure for growth.

The platform aims to simplify complex administrative tasks like salary processing, tax filings with HMRC, employee onboarding, time off management, and expense tracking.

While the website emphasizes ease of use, cost-effectiveness, and HMRC recognition, a deeper dive into “1st.money reviews” is crucial to understand the real-world user experience and identify if their services align with the needs and ethical considerations of business operations.

It’s important to approach financial and business tools with a keen eye, ensuring they align with ethical principles.

While 1st.money focuses on payroll and HR, the underlying financial transactions and business practices should always be scrutinized.

In the context of business, avoiding any involvement in interest-based transactions riba, deceptive practices, or schemes that lack transparency is paramount.

For those seeking to manage their finances and business operations in a manner that adheres to these principles, it’s always best to prioritize clear, honest dealings and avoid anything that might involve impermissible elements.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Understanding 1st.money: A Deep Dive into Payroll and HR Solutions

1st.money positions itself as a comprehensive “People Platform” for businesses in the UK, aiming to streamline payroll, HR, and related administrative tasks.

The platform’s primary appeal lies in its “FREE+” offering for businesses with under 10 paid individuals, making it an attractive option for startups and small enterprises.

Their services are recognized by HMRC, indicating compliance with UK tax regulations for PAYE and CIS Construction Industry Scheme.

What is 1st.money and Who is it For?

1st.money is a software company that provides cloud-based solutions for managing employee payroll and human resources.

Based in the UK, it focuses on automating various HR processes, from onboarding to offboarding, alongside robust payroll capabilities.

• Target Audience:

  • Small Businesses & Startups: The “FREE+” tier is specifically designed for businesses with fewer than 10 paid individuals, offering a cost-effective solution for managing early-stage payroll and HR needs without upfront costs.
  • Growing SMEs: As businesses expand, 1st.money offers a clear upgrade path to their “PRO” plan, accommodating growth while maintaining integrated HR and payroll functions.
  • Various Industries: The website lists a wide array of supported industries, including retail, hospitality, construction, medical, education, finance, legal, and non-profit, suggesting a broad applicability of their services.
  • UK-Based Businesses: Given its HMRC recognition and focus on UK tax regulations PAYE, CIS, 1st.money is explicitly designed for businesses operating within the United Kingdom.

• Key Features: The platform boasts a suite of features including:

  • Payroll & HR: Core payroll processing, tax form automation P45s, P60s, and comprehensive HR document management.
  • Onboarding & Offboarding: Streamlined processes for new hires and departing employees.
  • Time Management: Tools for tracking time off, expenses, and timesheets.
  • Compliance: HMRC recognition for PAYE and CIS filings.

1st.money Review & First Look

Upon a first look at 1st.money’s website, the primary impression is one of clarity and a strong emphasis on their “free” offering.

The user interface is clean, and information about features and pricing is readily accessible.

• User-Friendly Interface: The website’s navigation is intuitive, allowing potential users to quickly find information about specific features, pricing tiers, and supported industries. The language used is straightforward, avoiding excessive jargon.
• Focus on Simplicity: The platform appears to prioritize ease of use, with features like “one-tap” clock-in for TimeSpot and auto-filled tax forms, aiming to reduce the administrative burden on businesses.
• Transparency in Pricing: The pricing model is explicitly laid out, distinguishing between the free tier and the PRO plan, with clear criteria for when a business would transition between them. This upfront approach is a positive sign for users seeking predictable costs.
• HMRC Recognition Highlight: The consistent mention of HMRC recognition for both PAYE and CIS indicates a commitment to compliance and reliability within the UK regulatory framework, a critical factor for any payroll software.
• Limited Public Reviews: While the website presents its features comprehensively, finding extensive, independent “1st.money reviews” on third-party platforms might require more in-depth searching. This can sometimes make it challenging for new users to gauge widespread sentiment or common issues. A quick scan reveals that while the company touts its “most beautiful, user-friendliest, most powerful” claims, verifying these would require user testimonials not readily available on external review sites in large quantities.
• Industry Recognition: Being a member of LU Inc., Loughborough University’s business incubator, suggests a level of institutional backing and a focus on innovation, which can be a positive indicator for a tech company.

1st.money Pros & Cons

When evaluating any business tool, it’s essential to weigh its advantages against its potential drawbacks. Perfectscent4u.com Reviews

Based on the website’s information, here’s a breakdown of the pros and cons of 1st.money, with an emphasis on aspects relevant to ethical business practices.

Pros:

• Generous Free Tier: The “FREE+” plan for up to 10 paid individuals is a significant advantage for startups and very small businesses, allowing them to manage essential payroll and HR functions without an initial financial commitment. This can help new ventures allocate resources to other critical areas.
• HMRC Recognition and Compliance: The platform’s recognition by HMRC for PAYE and CIS compliance is a major plus. This ensures that businesses using 1st.money can confidently meet their tax obligations, minimizing the risk of penalties or errors.
• Comprehensive HR Features: Beyond just payroll, 1st.money offers a broad suite of HR tools, including onboarding, offboarding, time off management, expenses, and HR document templates. This integrated approach can save businesses from needing multiple separate systems.
• User-Friendly Design: The emphasis on being “user-friendliest” and “easiest” suggests a focus on intuitive design, which can reduce the learning curve for new users and improve efficiency for HR and payroll administrators.
• Cloud-Based Solution: Being a 100% cloud solution offers flexibility, allowing users to access and manage their payroll and HR from any device with an internet connection, promoting efficiency and remote work capabilities.
• No Hidden Costs Claimed: The website explicitly states “no hidden or setup costs” and provides a clear pricing structure. This transparency is crucial for businesses to budget effectively and avoid unexpected expenses.
• Strong Audit History: The “Who changed what” audit history feature is valuable for accountability and transparency, allowing businesses to track changes made within the system, which is important for compliance and error correction.

Cons:

• UK-Specific Focus: While a strength for UK businesses, its direct applicability is limited to the UK market, making it unsuitable for businesses operating in other regions with different tax and labor laws.
• Scalability Cost: While the initial tier is free, the transition to the PRO plan at £1.29/month per person with a £12.90 minimum can add up for larger organizations. Businesses need to factor in this per-person cost as they grow.
• Reliance on External Advice: The website clearly states that 1st.money is not a legal or tax advisor and encourages users to consult licensed attorneys and accountants. While this is standard for software providers, it means businesses still need external professional guidance for complex situations.
• No Direct Payment Processing: The system focuses on calculating payroll and tax obligations, but it doesn’t appear to handle the actual payment of salaries or taxes directly. Businesses would still need to integrate with their banking system or accounting software for the final financial transactions.
• Limited Integration Information Initial View: While it mentions “Accounting integrations,” the initial website view doesn’t detail the depth or breadth of these integrations beyond listing some popular software like QuickBooks, Xero, and Sage. The effectiveness of these integrations can significantly impact a business’s workflow.
• Lack of Extensive Third-Party Reviews: As noted earlier, a readily available, high volume of independent “1st.money reviews” on major software review platforms might be less prominent compared to some larger, more established global players. This can make it harder for new users to gain comprehensive insights into typical user experiences, challenges, or long-term satisfaction. Potential users might need to rely more heavily on their own trials or direct inquiries.

1st.money Features

1st.money offers a comprehensive suite of features designed to cover the entire employee lifecycle from onboarding to offboarding, alongside robust payroll management.

These features are organized into distinct modules, many of which are included in their “FREE+” tier.

Payroll & HR Features:

• Personalised Pay:
  • Schedule future pay rises.
  • Set hourly or annual pay rates.
  • Store weekly target hours for each person.
  • Options for daily/weekly overtime and additional night pay.
  • Pro-rata salary calculations for employees joining or leaving mid-month.
• Flexible Pay Settings:
  • Supports all pay frequencies: weekly, fortnightly, monthly.
  • Accommodates all pay period and payday combinations.
  • Detailed payslip breakdown for overtime and night pay.
  • Supports bridging the pay gap when changing pay schedules.
  • Option to remove one-time repeating payables on payday.
• Advanced Tax Support:
  • Supports all HMRC’s advanced payroll settings.
  • Veteran employer tax relief.
  • HMRC’s secondments, EEA citizens, and expat schemes.
  • New benefits-in-kind payrolling benefits approach.
  • Stores organization’s payday bank details.
  • Option to delete payslips and restart.
• HMRC Connected:
  • Instant verification of National Insurance NI numbers.
  • Confirmation of HMRC tax filing.
  • Automatic handling of all HMRC notices.
  • Stores organization’s and tax agent’s HMRC government gateway connections.
• Payday Reporting:
  • View and filter all filed payslips.
  • Summarize payroll per person for the entire tax year.
  • Download payroll numbers to XLS.
  • Re-download payslip PDFs, even months later.
  • Full breakdown of hours worked per payslip.
• Perfect Tax Setup:
  • Supports various worker types: employees, contractors, zero-hour, off-payroll, directors.
  • Supports all forms of director NICs and payroll.
  • Supports all 20+ NI category letters.
  • Submission with 10-digit UTR code.
  • Stores each person’s tax code.
• Employee Self-Serve:
  • Visual explanation of pay for employees.
  • Payslip and PDF emailed to each person.
  • Employees can download PDFs from their payslip history and tax form PDFs.
  • Stores employee’s payday bank details.
  • Supports employee split Payday Payments.
  • HMRC receipt confirmation printed on every payslip.
  • Supports P45 previous job info.
• Smooth Paydays:
  • Calendared reminders for important payroll dates.
  • Option to selectively skip some people’s Payday Payment.
  • Edit timesheet hours on payday.
  • Add payslip “Hours worked” adjustments.
  • Detailed explanations on payslip calculations.
  • Option for a printable PDF of all paid payslips.
  • Designate person in charge of payday.
  • Option to temporarily halt pay.
• Ultimate EPS Employer Payment Summary:
  • Automatic reminder email for monthly EPS.
  • Fully online submission of all seven sections of EPS.
  • Stores HMRC’s confirmation as proof of submission.
  • Supports unlimited EPS changes and refiles.
  • Submit Employment Allowance claims.
  • Submit auto-calculated recoverable amounts and apprenticeship levy.
  • Submit a “Stop being an employer” notice.
• Tax Automation:
  • Automatic PDF emailing of a leaver’s P45.
  • Automatic P60 PDF emailing on the last payday of the year.
  • Subscribe to auto-updates for minimum wage employees including apprentices.
  • Warning if below minimum wage with override.
  • Submit banking details to HMRC.
  • Submit a “Payroll on hold notice” to HMRC.
  • Auto calculates P11D employee and P11Db yearly numbers.

HR & Time Management Modules:

• Onboarding: Helps set up new hires with P45s, track completion, verify NIs.
• Time Off: Manages various time off options including unlimited PTO, carry-over, and default settings for new hires.
• Expenses: Unlimited free expense claims, including student loans, mileage allowances, and benefits-in-kind, repaid through payroll. Email approval feature.
• HR Docs: Super-charges business with unlimited HR automation and over 80 templates for assessments, onboarding, discipline, leave, operations, payroll, recruitment, and benefits.
• Timesheets: Unlimited free timesheets, shift scheduling, absence management, and hourly pay, synced with payroll. Features for publishing shifts, scheduled targets, and monitoring lates/no-shows.
• TimeSpot: Free iOS/Android app for clock-in/out on tablets or phones, designed for high throughput.
• Leave: Auto-writes leave documents and auto-fills SMP1 & SPP1 forms. Automates leave documents, SMP1 & SPP1, forgone earnings, and added earnings.
• Offboarding: Unlimited free employee offboarding, including disciplinaries, hearings, suspensions, terminations, and resignations, synced with payroll. Automates verbal warnings, written warnings, hearings, suspensions, gross misconduct, first-month terminations, pay in lieu, resignations, non-working paid notice, and working paid notice.

Accounting Integrations:

• Connectivity: 1st.money connects to existing accounting software, stating compatibility with popular platforms like QuickBooks, Xero, Sage, and IRIS. This integration is crucial for maintaining a seamless financial workflow.

CIS Construction Industry Scheme:

• CIS Compliance: For construction industry contractors, 1st.money offers a specific module to handle CIS requirements, including filing CIS300 returns online, recognized by HMRC. This caters to a niche but important sector in the UK.

1st.money Pricing

1st.money’s pricing model is designed to be accessible for small businesses while offering a clear progression as a company grows.

Their strategy heavily leverages a “free” tier to attract users.

• FREE+ Plan:

  • Cost: £0.00
  • Eligibility: Free for businesses with under 10 paid people in a given month.
  • Features: Includes comprehensive Payroll & HR functionalities, Onboarding, Time Off, Expenses, HR Docs, Timesheets, TimeSpot, Leave, Offboarding, and Accounting integrations.
  • Note: No credit card required to start. Tax Filing is optional on this plan, meaning it’s suitable for contractors, advisors, dormant employees, etc., who don’t require full tax filing services through the platform. This plan remains free if no one uses Pension Filing or CIS in that month.
  • Key Detail: “Most people start out only needing FREE or FREE+ so you’ll likely pay nothing!”

• PRO Plan:

  • Cost: £1.29 per month per person.
  • Minimum Charge: £12.90 per month this minimum includes 10 paid people.
  • Transition: Businesses automatically move to the PRO plan when they reach 10 paid people or more in a month, or if at least one person uses Pension Filing or CIS in that month.
  • Billing: Billed only for the people who get paid in that month. If fewer than 10 people get paid and no one uses Pension Filing or CIS, that month remains free.
  • Additional Features: Includes all “FREE+” features, plus Pension Filing and CIS Construction Industry Scheme capabilities.

• Hidden Costs?

  • The website explicitly states: “There’s no hidden or setup costs.”
  • VAT: All prices listed do not include VAT Value Added Tax. Businesses are responsible for paying the 20% VAT directly to HMRC via reverse charge. This is a crucial detail for UK businesses to note for their accounting.

Example Scenario Data-Based:

• Scenario 1: Small Startup 8 employees
  • If 8 employees are paid and no Pension Filing or CIS is used: £0.00/month qualifies for FREE+.
• Scenario 2: Growing Business 12 employees
  • If 12 employees are paid: £1.29/person * 12 people = £15.48/month moves to PRO plan.
• Scenario 3: Small Business with CIS needs 5 employees
  • If 5 employees are paid, but one uses CIS in a month: £12.90/month moves to PRO plan due to CIS usage, minimum applies.
• Scenario 4: Fluctuating Workforce Month 1: 7 employees, Month 2: 11 employees, Month 3: 8 employees
  • Month 1: £0.00 FREE+
  • Month 2: £1.29 * 11 = £14.19 PRO
  • Month 3: £0.00 FREE+ assuming no Pension/CIS usage

This flexible pricing structure allows businesses to control costs effectively, especially in their early stages, and scale up predictably. Ezifitblinds.ie Reviews

The key takeaway is the transparency around the triggers for transitioning from the free to the paid plan.

How to Cancel 1st.money Subscription

Based on typical SaaS Software as a Service models, canceling a subscription like 1st.money would generally follow a standard procedure.

While the website doesn’t explicitly detail a step-by-step “cancel subscription” guide on its main pages, common methods usually involve managing your account settings.

• Check Account Settings: The most common way to manage or cancel a subscription is directly within your 1st.money account. Look for sections like “Billing,” “Subscription,” “Account Settings,” or “Manage Plan.” These sections typically allow users to downgrade, upgrade, or cancel their service.
• Contact Support: If the option isn’t immediately clear within your account, contacting 1st.money’s customer support would be the next step.
  • Chat: The website indicates “Chat with us” as a support option. This is often the quickest way to get immediate assistance.
  • Phone: A phone number 1-800-910-4570 is provided for support and demos.
  • Help/Contact Section: The “Support” menu includes “Help” and “Contact” links, which likely lead to a knowledge base, FAQs, or a contact form for direct inquiries.
• Terms and Conditions Review: For specific details regarding cancellation policies, notice periods, or any potential fees, it’s always advisable to review 1st.money’s “Terms” policy, which is linked in the footer of their website. This document will contain the official contractual obligations regarding termination of service.

General Cancellation Principles:

• No Long-Term Contracts Implied: Given the monthly billing for the PRO plan, it’s highly probable that 1st.money operates on a month-to-month subscription model, meaning you typically wouldn’t be locked into long-term contracts.
• No Refunds for Partial Months: Most software services do not provide refunds for partial months of service if you cancel mid-billing cycle. Your service would likely continue until the end of the current billing period.
• Data Export: Before canceling, it’s crucial to ensure you have exported all necessary payroll and HR data payslips, tax forms, employee records, etc. as the company states, “You won’t need Tax Filing for contractors, advisors, external accountants, dormant employees, and unpaid interns, etc.” You might lose access to this data once your account is fully closed.

How to Cancel 1st.money Free Trial

The website indicates that the “FREE+” plan is free “while you’re under 10 people” and that they “won’t even ask for your card number” when you start.

This implies that there isn’t a traditional “free trial” that expires and then automatically charges you.

Instead, the free tier is a perpetual offering under specific conditions.

• No Automatic Conversion: Since 1st.money doesn’t collect your card details for the “FREE+” plan, there’s no automatic billing or subscription to “cancel” in the traditional sense of a trial expiring.
• Account Deactivation: If you decide you no longer want to use 1st.money even on the free tier, you would likely need to deactivate or close your account. This process typically involves:
  • Contacting Support: Reaching out to 1st.money’s customer support via chat, phone, or their contact form to request account closure.
  • Data Export: As with any service where you store sensitive data, ensure you have downloaded all your necessary payroll, HR, and employee information before requesting deactivation. Once an account is closed, data recovery might not be possible.
• Transition to PRO: The only “transition” mechanism described is moving from the “FREE+” plan to the “PRO” plan, which happens automatically if your paid headcount reaches 10 or more, or if you start using Pension Filing or CIS services. At this point, you would be subject to the £1.29 per person monthly fee with the £12.90 minimum. If you do not wish to be billed under the PRO plan, you would need to ensure your employee count stays below 10 and you avoid the PRO-specific features, or you would need to cease using the service entirely as outlined in the general cancellation instructions above.
• No Opt-Out Needed for free tier: The absence of an upfront credit card requirement for the “FREE+” tier means there’s no financial commitment to “cancel” if you simply stop using the service and remain within the free tier’s parameters. Your account would likely become inactive or be subject to their data retention policies if unused for an extended period.

1st.money Alternatives

When considering 1st.money, it’s beneficial to look at alternative payroll and HR software solutions available in the UK market.

The “best” alternative depends on specific business needs, budget, size, and desired features.

Here are some prominent competitors that often come up in “1st.money reviews” or comparisons: Sdsneakers.com Reviews

• BrightPay:

  • Overview: A popular and highly-rated payroll software in the UK and Ireland, known for its user-friendliness and comprehensive features, including HMRC recognition, auto-enrolment pensions, and integration with accounting software. Offers desktop and cloud versions.
  • Pros: Often praised for excellent customer support, detailed reporting, and a robust feature set that handles complex payroll scenarios. Provides a free license for up to 3 employees PAYE only.
  • Cons: The desktop version might require manual updates. Pricing can be higher for larger businesses.
  • Best for: Small to medium-sized businesses looking for reliable, feature-rich payroll with good support.

• Xero Payroll UK:

  • Overview: Integrated directly within the Xero accounting platform, Xero Payroll offers seamless payroll processing for businesses already using Xero for their bookkeeping. It covers PAYE, NI, pensions, and submissions to HMRC.
  • Pros: Deep integration with Xero’s accounting features, providing a unified financial management experience. User-friendly interface.
  • Cons: Only available as an add-on to a Xero accounting subscription, which adds to the overall cost. Might not be as feature-rich as dedicated payroll software for complex scenarios.
  • Best for: Businesses already using Xero for accounting or those looking for an all-in-one accounting and payroll solution.

• QuickBooks Payroll UK:

  • Overview: Similar to Xero Payroll, QuickBooks Payroll is an add-on to QuickBooks accounting software. It automates payroll, including tax calculations, RTI submissions, and pension auto-enrolment.
  • Pros: Strong integration with QuickBooks accounting. Familiar interface for existing QuickBooks users. Good for managing various employee types.
  • Cons: Requires a QuickBooks accounting subscription. Some users report that it can be less intuitive than standalone payroll solutions for complex tasks.
  • Best for: Businesses already heavily invested in the QuickBooks ecosystem.

• Sage Business Cloud Payroll:

  • Overview: Sage is a long-established player in accounting and payroll software. Their cloud-based payroll solution caters to businesses of all sizes, offering automated calculations, HMRC submissions, and pensions.
  • Pros: Reputable brand with extensive features. Scalable from small to large businesses. Offers various tiers to match needs.
  • Cons: Can be perceived as more expensive than some competitors. Interface might feel less modern compared to newer cloud-native solutions.
  • Best for: Businesses of varying sizes seeking a comprehensive and reliable payroll solution from an industry veteran.

• PayFit:

  • Overview: A modern, cloud-based payroll and HR solution that emphasizes automation and a user-friendly experience. Aims to simplify payroll, pensions, and HR processes significantly.
  • Pros: Highly automated, reducing manual input and errors. Good for businesses that want a hands-off approach to payroll. Strong emphasis on employee self-service features.
  • Cons: Can be more expensive than some entry-level options. May be more suitable for growing businesses than very small startups due to pricing.
  • Best for: Businesses looking for a highly automated, modern payroll and HR platform.

• FreeAgent:

  • Overview: Often bundled with business bank accounts e.g., NatWest, Royal Bank of Scotland, FreeAgent offers integrated accounting, invoicing, and payroll for sole traders and small businesses.
  • Pros: Excellent for self-employed individuals and micro-businesses. Good integration between accounting and payroll. Often free with certain bank accounts.
  • Cons: May not scale well for larger businesses with complex payroll needs. Limited advanced HR features compared to dedicated HR platforms.
  • Best for: Freelancers, contractors, and very small businesses, especially if they can get it for free through their bank.

Considerations when choosing an alternative:

• Business Size and Growth: Does the alternative scale effectively with your business’s employee count?
• Budget: Does the pricing align with your financial constraints?
• Feature Set: Does it offer all the payroll and HR functionalities your business requires, including specific needs like CIS or auto-enrolment pensions?
• Ease of Use: How intuitive is the interface, and what is the learning curve?
• Customer Support: What kind of support is available phone, chat, email, knowledge base?
• Integrations: Does it integrate with your existing accounting software, time tracking tools, or other business systems?
• HMRC Compliance: Is it fully recognized and compliant with all relevant UK tax and employment regulations?
• Ethical Considerations: Ensure any financial tools chosen avoid interest-based transactions riba and promote transparent and fair dealings in line with ethical principles.

Each of these alternatives has its own strengths and weaknesses, and prospective users should conduct a thorough comparison based on their unique operational requirements.

Frequently Asked Questions

What is 1st.money?

1st.money is a UK-based software provider that offers cloud-based payroll, HR, and accounting integration solutions for businesses of various sizes, recognized by HMRC for PAYE and CIS compliance.

Is 1st.money free?

Yes, 1st.money offers a “FREE+” plan for businesses with under 10 paid people per month, provided they don’t use Pension Filing or CIS features. Allavionics.com Reviews

They do not require a credit card to start on this free tier.

How does 1st.money’s pricing work?

1st.money offers a “FREE+” plan for under 10 paid people.

If you exceed 10 paid people or use Pension Filing or CIS, you automatically transition to the “PRO” plan, which costs £1.29 per person per month, with a minimum charge of £12.90.

Is 1st.money recognized by HMRC?

Yes, 1st.money is recognized by HM Revenue & Customs HMRC for reporting PAYE information online and as a supplier of software for the Construction Industry Scheme CIS.

What features are included in 1st.money’s FREE+ plan?

The FREE+ plan includes comprehensive Payroll & HR, Onboarding, Time Off, Expenses, HR Docs, Timesheets, TimeSpot, Leave, Offboarding, and Accounting integrations.

Does 1st.money handle Pension Auto-Enrolment?

Pension Filing is a feature that triggers a move to the PRO plan, implying that while it supports pension needs, it’s not part of the perpetual free offering.

Can 1st.money help with CIS Construction Industry Scheme?

Yes, 1st.money offers a specific module for CIS compliance and is recognized by HMRC for filing CIS300 returns online. This feature activates the PRO plan.

Does 1st.money handle direct payments to employees or HMRC?

Based on the website, 1st.money focuses on calculating payroll and tax obligations and automating submissions to HMRC.

It does not appear to handle the direct payment of salaries or taxes to employees or HMRC itself.

Businesses would likely need to integrate with their banking or accounting system for actual fund transfers. Amvia.co.uk Reviews

Is 1st.money suitable for small businesses?

Yes, 1st.money is particularly well-suited for small businesses and startups due to its generous “FREE+” tier for companies with under 10 employees.

Can I use 1st.money if I’m not in the UK?

No, 1st.money is specifically designed for businesses operating within the UK, given its compliance with HMRC regulations and focus on UK tax laws.

How do I contact 1st.money customer support?

You can contact 1st.money support via chat, phone 1-800-910-4570, or through the “Help” and “Contact” sections on their website.

Does 1st.money offer employee self-service features?

Yes, employees can view visual explanations of their pay, receive beautiful payslips via email, and download PDFs of their payslip and tax form history from their self-serve portal.

What kind of accounting integrations does 1st.money offer?

1st.money connects to popular accounting software like QuickBooks, Xero, Sage, and IRIS, allowing businesses to integrate their payroll data with their existing financial systems.

Does 1st.money provide HR document templates?

Yes, 1st.money includes over 80 HR document templates to help businesses with automation for assessments, onboarding, discipline, leave, operations, payroll, recruitment, and benefits.

Is there an app for 1st.money?

Yes, 1st.money offers a free iOS or Android app called “TimeSpot” for employee clock-in/out functionality.

What happens if my business grows beyond 10 employees with 1st.money?

If your paid employee count reaches 10 or more in a month, or you use Pension Filing or CIS, your account will automatically transition from the “FREE+” plan to the “PRO” plan, incurring a monthly fee of £1.29 per paid person with a £12.90 minimum.

Are there any hidden fees with 1st.money?

1st.money states there are no hidden or setup costs.

However, prices listed do not include VAT Value Added Tax, which businesses are responsible for paying directly to HMRC via reverse charge. Carpetavenue.com Reviews

Does 1st.money offer advice on legal or tax matters?

No, 1st.money explicitly states that neither the company nor its employees are legal or tax advisors.

They recommend consulting with licensed attorneys and accountants for specific legal or tax advice.

How do I cancel my 1st.money account?

To cancel your 1st.money account, you would typically manage your subscription within your account settings or contact their customer support via chat or phone.

Ensure you export all necessary data before closing your account.

What are some alternatives to 1st.money for payroll and HR?

Some popular alternatives to 1st.money in the UK market include BrightPay, Xero Payroll, QuickBooks Payroll, Sage Business Cloud Payroll, PayFit, and FreeAgent, each offering varying features and pricing models.