Managing Payroll is one of those core business functions that you might believe is better kept in-house, but as our new Payroll Bureau Manager Joanne Gibson informs you, there is a compelling case for outsourcing it.
As a business owner you will know that employing a workforce requires a good understanding of your legal obligations as an employer and that you need to have the knowledge to implement these for your business and your employees. Indeed, one of the first legal obligations is to register with HMRC as an employer and operate a PAYE scheme on behalf of your employees.
And because you know your own business better than anyone, it might seem that managing your own Payroll is the most time efficient, cost-effective and convenient choice for you, but this is not necessarily true. Managing payroll properly requires up to date knowledge of the ever-changing taxation system as well as a good understanding of current employee benefits and leave. For example, recent changes such as Automatic Enrolment which requires employers to enrol eligible employees into a workplace pension scheme has undoubtedly made managing payroll even more complicated and time consuming for businesses.
Our specialist Payroll Bureau manages this function for a considerable number of our clients and the message that comes through loud and clear is that they feel that their time is much better spent on managing and developing their business. By outsourcing your payroll, you have the reassurance that knowledgeable professionals are here to organise and manage your payroll as tailored to your business requirements and the number of employees that you have.
Our payroll services cover absolutely every aspect of the process; from setting up a new employee to calculating maternity or paternity pay, processing change of tax codes, a pension payment, producing an itemised payslip for every employee and submitting information electronically to HMRC. It is crucial that a professional manages the payroll of any business because of the legal and financial repercussions which may arise from mishandled payrolls. Incorrectly deducting tax or incorrectly processing sick leave is a serious matter and mistakes like this can be costly, even if they are mistakes due to a lack of knowledge or understanding.
As you will see, there are many good reasons for outsourcing your Payroll and JRW’s specialist Bureau can provide you with a top-quality service which will ensure that your payroll is managed properly and that it runs like clockwork every day of the year.
If you would like to have a chat about the specialist Payroll services that JRW can provide to you and your business, please don’t hesitate to get in touch with Joanne.