As an employer you will have many responsibilities and the question of whether you should outsource your payroll may have crossed your mind. At first glance it seems that payroll is a simple task that you can handle without help. However, there are many complexities and compliance issues that need to be considered alongside day-to-day processing.
So, how do you decide if outsourcing your payroll is the right decision for your business?
Benefits of Outsourcing your payroll
There are many benefits to outsourcing your payroll. Here are some of the reasons to consider an outsourced payroll service:
If you employ a payroll professional or in house payroll team you need to consider the cost of salaries, training, and payroll software. However, choosing to outsource your payroll to a dedicated team of professional could be more cost effective.
Manually entering and preparing payroll data to ensure your employees’ pay is calculated correctly demands time and attention to detail. If you decide to outsource your payroll, a dedicated team of trained specialists will have the time and resource and expertise to ensure that your payroll is processed quickly and efficiently and that your employees are paid on time.
Continuity of Service
Outsourcing your payroll will mean that there is always someone available to process the payroll and answer queries, even during periods of illness and during holidays.
Using a Payroll Bureau will ensure that sensitive and confidential data is held in accordance with HMRC timeframes and guidelines.
When you outsource to a payroll bureau, it will be processed by a team of qualified payroll professionals who have the expertise to ensure that all elements of the payroll are correct, in line with contractual and statutory obligations. The team have a wealth of experience and can handle any queries or more complex issues as they arise and are able to offer advice on how to handle these.
There are many compliance and reporting responsibilities that come along with processing payroll and choosing to use a Payroll Bureau will ensure that these are handled on your behalf. The team will ensure that you are compliant with your statutory obligations and changes to legislation.
A dedicated Payroll Bureau will have access to a HMRC accredited system that is designed to handle the detailed and complex calculations needed to process the payroll.
If you decide to outsource your payroll, the daily administrative tasks, such as liaising with the HMRC, and the contractual obligations to your employees will be completed by a qualified payroll specialist. This will ensure the responsibility of processing is completed accurately and on time.
Our team offer a fully managed payroll service tailored specifically to your business needs and will ensure you will meet your statutory obligations.