Lets be totally honest here - as much as I would like to persuade you otherwise - processing a small business' payroll is not rocket science!!
There are hundreds of cost effective payroll products on the market that can automate and make processing payroll seem like a doddle. If you are using cloud based accountancy software it is likely they also provide an integrated payroll solution within their product. So why would you ever pay for this service as a small/medium business??
Here are a few reasons:
- It can actually be cheaper than doing it yourself
- If you add up your software costs and add a realistic cost for the time cost spent
on payroll processing over the year, in many cases a bureau's fee will be lower or very
close to what you are already spending. Then consider the additional benefits!!
- You are not just buying a professional service - you are also buying peace of mind
- While it is more than possible for business owners or a nominated employee to
follow the software guides, HMRC guidance and make the required submissions for
payroll and pensions; would you be able to react to legislation changes or spot
any mistakes? When you use a payroll bureau you are not just getting your payroll
processed, you are buying their collective years of experience as well as the ongoing
training; so you can be confident there will be no unpleasant or costly surprises down
the line.
- They can offer more than just payroll processing
- As well as ensuring you are compliant with payroll legislation and submissions, your
payroll bureau can add value by submitting your pension contributions, assisting with
your Auto Enrolment duties and general employment/ basic HR issues you might face
as an employer.
If you would like more information or a quote, please contact us.