Outsourced Payroll Service Versus In-House
As a business owner, there are only 2 choices for how you pay your employees: you do it yourself or you can contract the work out to an outsourced payroll service, such as J L Payroll Services, to do it for you. If you don’t have an accounting background and aren’t well versed in HMRC’s payroll tax laws – there are a lot of them and they are always changing – then a payroll service is probably your best option.
What does a Payroll Service look after?
Running any business is time consuming. Above all it’s about focusing on what you do best, which is running the business in terms of growing it and ensuring it is profitable. In small businesses, especially, which tend not to have HR and finance departments, it is often the owner or one of the directors who ends up running the payroll and this can take the eye off the ball when it comes to running the business.
Here are just some of the areas that we, as an outsourced payroll service look after:
- Running the payroll: Our payroll service calculates how much employees should be paid each pay period, along with any tax and NI and deposits the funds via direct deposit into the employees bank accounts. Pay slips can be emailed, too.
- Report filing: Our payroll service completes all of the required reports that must be filed with HMRC on time.
- New Employees: We report new employees to HMRC
- Integration with accounting software: Our payroll service integrates with accounting software, giving you the ability to keep accurate financial records.
- Holiday Pay: Our payroll service keeps track of employees’ paid time off. Not just holiday pay, but maternity pay, sick pay, etc.
- Benefits administration: Our Payroll service looks after all of the employee benefits that go forward into P11D, which we also complete.
- Workplace pensions: The new workplace pensions legislation has been a headache for many small businesses, but we take the strain and sort it all out for you.
That’s a lot of workload to take off your plate.
The Benefits of an outsourced payroll service
The biggest benefit of our outsourced payroll service is that all of the work – payroll calculations, payroll tax payments, year-end tax forms, etc. – is completed for you, saving you time and effort. All you really need to tell us are the rates of pay and the hours worked for each period and we do all the rest.
So, if your business has got to the stage where you have had enough of doing the payroll yourself, contact us or call us on 0121 422 0550, and we’ll come and see you and quote for your payroll.