Outsourcing your payroll management ensures that all records for employee payment are maintained accurately and your PAYE obligations are fulfilled. We can also manage your real time information submissions, ensuring that all information is provided at the right time and in the correct format.
When a small business, which perhaps starts out as just a sole trader, starts to grow to a point where it requires additional staff, the original sole trader can often feel overwhelmed at the prospect of dealing with payroll administration.
There is much to consider and much to learn when you start to employ others; there are tax implications, national insurance contributions, PAYE issues, pension contributions, end of year P60 allocation, and perhaps most importantly, you must make sure each of your employees is paid correctly and on time. As your body of staff increases, payroll administration can become an arduous and time consuming task.
Rather than waste the time learning everything they need to know, keeping up to date with changes in legislation and paperwork, and of course actually performing the many payroll tasks for each pay period, many small businesses choose to instead outsource their payroll administration. This allows them the security of knowing that everything will be done correctly while also freeing up their time for more lucrative tasks.
Larger businesses with many staff often choose to outsource their payroll operations too, simply because more staff to pay means more work to do! Employing the services of a professional will make the process infinitely more efficient, and can include maintaining time sheets, holiday entitlement, pension contributions, holiday pay and all other aspects of your employee salaries.
Outsourcing your payroll administration will instantly free up a huge amount of time, and perhaps more importantly, help you to avoid errors that could put a strain on employee relations.