Payroll Can Be a Big Headache for a Small Business
If you run a small business, like many people, one of the biggest headaches that you can have, among many others, is dealing with your payroll. Where a big business can afford to take on staff to do nothing else, in a small or medium sized business, there will usually not be sufficient payroll work to do to warrant a full-time employee.
Regardless, your payroll can be extremely complex and time-consuming which means that the amount of time that it takes can be disproportionate to the number of staff that you have. This is because you have employees on different rates of pay, sometimes doing the same job but being paid at different rates because of their age. Then you may have a member of the sales team paid a commission which will vary according to the number of sales they make; there can be bonuses, there is overtime, and more. And it all has to be calculated with 100% accuracy and tax returns made on time because otherwise you can be in line for penalties from HMRC.
This is why over 1,500 businesses use our services at PayCheck for payroll solutions in the UK. Outsourcing all your payroll needs to us has many advantages for the small business.
Carrying out payroll can consume a large proportion of your staff resources, especially if the employee/s in charge of the payroll have not had appropriate training and/or are carrying out the payroll function as part of their overall responsibilities. By outsourcing your payroll to us, you free them up and allow them to concentrate on other pressing jobs. It also allows you to grow your business because it is a simple matter for us to scale up your payroll as necessary.
In addition, when you outsource your payroll to us, you can trust that we are right up to date with the most recent changes in tax legislation and procedures. It is part of our job to keep on top of them, whereas staff working in-house may easily miss changes because they are not trained in what to look out for.
Accuracy is, of course, vitally important. Payroll errors can be embarrassing, stressful and a big inconvenience. When you outsource your payroll to a specialist company such as PayCheck, there are far less likely to be any errors than when using in-house staff, because you are paying us for our expertise and knowledge, along with our finely-tuned checking procedures.
You also get consistency and reliability. What happens if you use a staff member in your business to handle payroll and they suddenly fall sick and are off work for several weeks? Or that staff member hands in their notice? When that happens, all their knowledge goes with them and you have to start from scratch again. That means that you have to spend time training a new member of staff in your company’s payroll system, and you may have to do this at very short notice because you cannot put off pay day. At PayCheck, staff sickness and holidays, or changes of staff, will have no effect whatsoever on your payroll.
Our payroll solutions in the UK will undoubtedly save you money. When you add up all the different costs you accrue in attempting to carry out the payroll function in-house, it builds to an unpalatable amount. In addition to staff hours, there are payroll software costs, training, printers, printing and distributing payslips, recording tax documents, and more.
At PayCheck everything is rolled into one and we agree a single monthly payment with you, so you can also budget accordingly.