It’s quite common for companies to use a payroll service. A payroll service helps you to reduce the amount of administration involved for you and helps to make sure that your staff are paid on time.
Calculating wages, processing pay slips, staying on top of bank details and collating information regarding tax and National Insurance obligations can take up a lot of time. Unless you have the resources to manage these processes in-house, you could benefit from using the services of a payroll specialist.
The more employees you have working for you, the more complex the salary calculations become. You may have hundreds of individuals on your payroll; part-time, full-time or flexi-time arrangements in place; members of staff on sick-leave, taking holiday, or using paternity or maternity allowances. In many cases payroll services could even help you save money – by making sure that your obligations are met, but that you’re taking full advantage of any benefits or tax advantages open to you as an employer. Some payroll service companies are able to process your salaries by BACS so that the money automatically leaves your bank account and reaches your employees – which can save you a lot of time and admin.
Use our search tools to find an accountant or bookkeeper in your local area. Talk to them about the services they offer, and find out if outsourcing your employee pay requirements could free up valuable resources in your business.
Questions you might like to ask the experts…
- What is your fee structure, and how often will you invoice me?
- Can you arrange to pay my staff by BACS?
- What information will you require from me?
- Will you charge extra for tax year end reporting to HMRC?