Payroll Services
A languid sloth mid-yawn. Preparing a festive turkey. Your grandfather sharing his well-loved tale from his time in the Navy. These activities all take time, yet none quite match the demands of managing payroll.
Payroll processing is undeniably time-intensive. Crucially, it is also one of the most critical business functions that absolutely must operate without a hitch to ensure the satisfaction of you, your team, and your customers. But how prepared are you if your payroll specialist is unexpectedly absent? Can your system rapidly adapt to shifts in government regulations? If these issues cause concern, that’s where our support becomes essential—and these are just a few considerations when evaluating professional payroll services.
What do payroll services include?
While a payroll service designed for a small business will understandably differ from one catering to a large multinational corporation, standard payroll packages typically encompass a core range of features:
- Data entry
- Tax calculations
- National Insurance administration
- PAYE (Pay As You Earn) management
- Auto-Enrolment for workplace pensions
- Pensions processing
- RTI (Real Time Information) submissions to HMRC
- Generation of Payslips
- Provision of official documents, such as P45, P60, and P11d
- Financial Reports
- End of year summary preparation
- GDPR compliancy assurance
Why do companies use payroll services?
Do you imagine Superman handles his own payroll? “Hold on, Lois, I can’t rescue the burning building—I’m tied up finalizing my National Insurance payments.” Unlikely. Superman surely outsourced his payroll duties (we won’t confirm it’s us, but we can’t rule it out either).
Businesses engage payroll services so they can concentrate on their core superpowers, such as strategic business development, boosting sales, and improving communications, rather than wrestling with figures. Internal payroll operations can be costly, so businesses frequently opt for external services as a method to achieve significant savings. Furthermore, choosing a packaged payroll solution means you eliminate concerns over compliance, regulations, and legislative updates, as expert accountancy firms already possess the necessary, in-depth specialized knowledge.
Should I outsource my payroll to Smooth Accounting?
Outsourcing payroll offers a multitude of advantages. Training employees can incur significant costs, as can acquiring and maintaining the most current software. Furthermore, bringing staff up to speed requires a substantial investment of time. By delegating payroll to a professional accountant, you can eliminate all these concerns.
Beyond that, outsourced payroll services are notably fast, reliable, and efficient; a firm that specializes exclusively in payroll is inherently better equipped to handle complex salary and compensation questions. Today, 61% of businesses choose to outsource their payroll, which strongly indicates that thousands of companies find this approach preferable to managing the function internally.
How much does it cost for payroll services?
On average, the cost typically falls around £10 per employee, though this rate can fluctuate depending on the specific roles, such as employees versus directors. While it is always crucial to consider the expense of outsourcing your payroll services, it is equally important to calculate the potential savings. The value derived from expert knowledge, state-of-the-art software, continuous training, mitigation of risk, and avoiding financial penalties will provide you with absolute assurance that your payroll is managed safely and expertly.
Why choose us for your business bookkeeping services?
We're approachable — we understand that accounting can be intimidating and daunting, but our friendly team are always on hand to offer advice and peace of mind.
We're experienced — with many years of general practice experience, there's no query we can't handle.
We're cost effective — not only can we save you money, but we also believe in offering an excellent service at an excellent price.
Give yourself more time to spend on your business by letting us handle your bookkeeping efficiently and cost-effectively.
