When you start a new business, one of the last things on your mind is payroll. You may have started the business on your own, or you may have started with a partner or two, but what you don’t start with is a team of 30 employees all carrying out different functions, because the business hasn’t yet got off the ground.
What you will be concerned with at the outset, more than anything else, is getting customers or clients, depending on what you call them in your particular industry. Without customers, you don’t have a business, so that is where all your attention should be directed.
Of course, when you start to gain customers, you have to deliver the products or services that you offer, so it may well be that you start to spend less time on gaining new business due to having to spend more time on delivery.
Assuming all goes well, there will come a point when you need to take on an employee to help you provide services or products, or perhaps to fill the role of salesman to get more customers. So, at the drop of a hat you have become an employer, and with that role comes a lot of other things that you need to worry about.
To begin with, if that employee meets certain criteria, you have to enrol them into the company pension scheme that you don’t have! So, you have to start a pension scheme, and how do you go about doing that?
You also have to pay that employee their salary, and possibly commissions, prepare a payslip, deduct the appropriate amount of tax, and send off the details to HMRC.
As your business expands, you may take on more employees, but they are not going to be identical to the first one. You may pay them at different rates, and some of them may be in receipt of benefits, so you could have two employees doing the same job and getting different amounts of pay. That means different amounts of tax.
Payroll Creeps Up When You Are Not Looking
What happens, if you are like most start-ups, is that payroll creeps up on you when you are not looking. It can get to a point where you are spending too much time on payroll and not enough on the important stuff like expanding your business further.
This is why more and more business owners are outsourcing their payroll and using the payroll services for small business in the UK that we provide for people like you at Pay Check.
You may think that we are a little strange – and perhaps we are – but we actually enjoy all this payroll stuff and taxes and pension funds. We know how to do it, and we keep up with all of the latest changes in legislation so that our clients don’t have to worry about it. So, from your point of view, you get on with doing what you should be doing which is making money, and we get on with all the behind the scenes “donkey work” which is probably what you call it.
We have more than 1,500 clients who use our payroll outsourcing services and we handle over 50,000 payslips every month for companies who pay their employees weekly, fortnightly, four-weekly, or monthly, and we can do the same for you.
Not only does this take away all of the hassle of handling your payroll in-house, but it also gives you the peace of mind that the figures are all going to be correct, and you won’t start to get fines from the HMRC.