Management of your payroll can be a major administrative burden to a small business. Not only do your employees need to be paid on time and accurately but maintaining compliance with HMRC can be a minefield if left in the hands of someone inexperienced.
There are so many elements to consider with compliance, not leastkeeping up with changes in employment law! Personal allowances, holiday pay, statutory sick pay, maternity and paternity pay, employers and employees national insurance and now the management of Auto-Enrolment pensions.
On average, a business choosing to manage their payroll inhouse costs them 18% more than if they outsource.
There are many payroll agencies offering their services but remember to also ask if your accountants if this is something they can provide.
At Incisive Accounting we have a dedicated Payroll team - and as our fee structure is fixed, your payroll can be included in your monthly or annual accountancy fees. Alternatively, should your accountancy be dealt with elsewhere then Payroll services can certainly be a standalone service.
Our team will communicate with you every step of the way and have strict processes in place to ensure your payroll is processed in a timely manner every week, fortnight or month. Included in the service is the provision of payslips, the figures you need to pay HMRC and when, the setup and management of your Auto Enrolment pension scheme, P45s and all annual reporting like P60s and P11ds.
So if managing your payroll is giving you a headache, why not give us a call on 020 8434 7000 and we will happily chat through your requirements.