As Your Business Grows, Your Payroll Becomes More Complex
When you run a small business there are lots of things that you have to attend to apart from finding new customers / clients and increasing your turnover. If only it were that easy!
Small businesses actually account for most of the business in the UK. Those with between 0 and 49 employees, of which there were 5.5 million at the beginning of 2021, are 99.2% of the total. They employed 12.9 million people and had a total turnover of £1.6 trillion, which is 36% of the total of all businesses.
That is a lot of business and a lot of people who need to be paid. If you have employees in your own business they need to be paid too, and that means that you have to run a payroll. Your business must comply with all the rules and regulations, and you have to deduct taxes and make returns to the Inland Revenue every month. If you just have a couple of employees, then you can probably manage to handle it yourself, but as a business grows, it takes on more employees and the payroll becomes more and more complex.
You Can Get Fined!
Before you know it, you find that you are sitting down for half a day – or even longer – just struggling with all of the figures. Not only that, but if you make errors, which can easily happen, you can be fined by HMRC! It’s bad enough if you pay your people monthly, but if you pay weekly, it is a nightmare.
This is why more and more businesses today use payroll outsourcing services in the UK such as those we provide at PayCheck. Our payroll solutions in the UK take all of the worry away and let you get on with what you should be doing, and that is expanding your business and looking after your customers.
Not only that, but in the vast majority of cases, using our payroll outsourcing services in the UK will actually save you money! Our rates for handling your payroll start at just £35 per month!
As well as dealing with all of your payroll, our payroll solutions in the UK can also take care of your auto-enrolment pension scheme. So, you can get rid of all the headaches in one go. Most importantly, it gives you peace of mind because your payroll will be done on time every time and without the worry of mistakes incurring extra costs from HMRC.