Outsourcing Payroll Has Several Benefits
When you own a business there are a great many things that you have to do. Not only do you have to run your business at a profit, but you need to make constant efforts to increase those profits because otherwise you will fall behind. There are also a lot of other things that you need to do which are required by law, such as carrying out a fire risk assessment of your premises from time to time, and things like this not only earn you nothing, but actually take time to do – time which could be spent expanding your business.
There are also a number of things which are connected with your business and, indeed, are a part of it but which also take up your time and don’t make any direct contribution to your revenue, one of those being payroll.
If you only have a couple of employees, then payroll is not going to take up too much of your time, but as your business grows, payroll can become a much more complex process and require a lot more of your time to operate. This is because you have a number of employees, and they are paid wages at different rates. They will also have other variations such as benefits which some may get, and others don’t. Then you have your pension auto enrolment scheme with employees being enrolled or not enrolled according to age, amount of earnings, and so on. Before you know where you are, payroll can become nothing short of an unholy mess.
Fortunately, there is an answer to all this payroll business, and one which many more businesses are taking advantage of. That is to outsource your employees’ payroll to a specialist company such as ourselves at Pay Check. After all, as your business grows you already outsource many other jobs to a specialist, so why not get rid of one of the biggest headaches, which is payroll?
We are talking about things such as your office cleaning, for instance. You wouldn’t dream of getting out a hoover and dusters after the day’s work is over and cleaning your own office. The same with servicing your car. You just drop it off at the dealership in the morning, they service it, and you collect it again in the evening after work. You can do the same thing with your payroll today too.
Several Advantages
When you outsource your employees’ payroll to us there are several advantages that you may not have considered. The first is that it will in all probability cost you less to outsource it to us than to do it in-house. If you keep it in-house, you are either going to have to do it yourself, or you are going to have another employee do it as a part of their regular work, or you are going to have to employ someone who just does your payroll, when it gets to a certain size. So, it is costing you money anyway.
But another big advantage is that, when you outsource to us, your payroll is going to be right. We don’t make unforced errors which are very likely to creep in when you have an employee working on it part time who doesn’t have the experience that we have.
Furthermore, there are constant changes to the tax laws which are easily missed if you don’t keep on top of things. That means that there can be errors in your tax returns and that can lead to penalties from HMRC.
Outsource to us and let us take care of your payroll while you take care of running your business.