Payroll Services by Smooth Accounting
A sloth yawning. Cooking a turkey. Your granddad telling his favourite story about when he was in the Navy. These things are time-consuming, but none of them compare to payroll.
Payroll services are time-consuming. It is also one of the most business-critical functions that must run smoothly so that you, your employees, and your clients are all happy. But what happens if your payroll manager goes off sick? Can you respond quickly to a change in government legislation? If not, that’s where we come in, but there are many other points to consider when it comes to payroll services.
Are payroll services essential?
This question is important to answer in response to COVID-19. Yes, payroll professionals are classed as key workers, as confirmed by the Chartered Institute of Payroll Professionals (CIPP). If you have further questions regarding furloughed staff and key workers, please get in touch with us on 01329 889345.
What do payroll services include?
- Data entry
- Tax calculations
- National Insurance
- PAYE
- Auto-Enrolment
- Pensions
- RTI provided to HMRC
- Payslips
- Official documents, e.g. P45, P60 and P11d
- Reports
- End of year summary
- GDPR compliancy
Why do companies use payroll services?
Do you think Superman did his own payroll? “Sorry Lois, I can’t save the burning school because I’m just sorting out my National Insurance contributions”. No. Superman will have outsourced his payroll services (we’re not saying it’s us, but we’re not saying it’s not).
Companies use payroll services because they can focus on all their brilliant superpowers, such as business development, sales, and communications, instead of playing around with numbers. In-house payroll services are money burners, so companies often use payroll services as a way of saving the business money. What’s more, a packaged payroll service means you don’t have to worry about compliance, regulations and legislation as accountancy firms have already got in-depth specialist knowledge.
Should I outsource my payroll to Smooth Accounting?
There are many benefits to outsourcing payroll services. Training staff can be incredibly expensive, as can buying the latest software. It also takes time to train employees. Outsource payroll to an accountant, and you don’t need to worry about any of this.
What’s more, outsourced payroll services are quick, speedy and efficient; a company that specialises in payroll day in and day out is likely to be better at complex payroll queries. Nowadays 61% of businesses outsource their payroll too, which suggests that thousands of companies prefer outsourcing payroll rather than doing it in-house.
How much does it cost for payroll services?
On average it works out at around £5 per employee but it varies between employees and directors. Whilst it’s always important to think about how much it will cost outsourcing your payroll services, it’s also worth thinking about how much it will save you. The value of expert knowledge, the latest software, regular training, risk reduction and pre-empting penalties will give you peace of mind that your payroll is in safe hands.
Contact Smooth Accounting for payroll advice
There are far more exciting things to do with your time than payroll – and that’s coming from us, and we like payroll. The thing is, we’re really good at it, and feel honoured to help hundreds of businesses just like yours with their payroll services each week.
To discuss outsourcing your payroll services to Smooth, contact us here or call 01329 889345.
