A question we’re often asked by our clients is what are the benefits of outsourcing payroll? Aside from freeing up time and allowing you to focus on working on your business, there are a number of key advantages of outsourcing including:
Outsourcing will give you peace of mind that your payroll will always be processed on time, and you won’t have to worry about a member of your payroll staff suddenly becoming sick. Many of our clients also ask us to process their net wage and/or PAYE payments. This is particularly useful where the business owner processes the payroll currently – no more avoiding month end holidays!
When you outsource your payroll you are paying for a highly experienced payroll professional. You can be safe in the knowledge that if an unusual situation arises our payroll team will be able to give you guidance and advice based on years of working within the industry.
Our payroll specialists have a great eye for detail, meaning we are far less likely to make a serious error. We will also ensure you comply with the National Minimum Wage and Real Time Information Regulations.
Businesses that choose to outsource their payroll may benefit from significant cost savings through not needing to employ dedicated payroll staff, pay for software, or print payslips and year end documents. Our service is often cheaper than buying your own payroll software (thanks to our superior buying power) before even taking into account the time saving.
Outsourcing your payroll means a higher degree of confidentiality is maintained. We will only share detailed payroll information with the employees who you wish to receive this information and will ensure that information is never shared with anyone who isn’t an authorised contact; upholding confidentiality at all times.
Our team can also provide basic Human Resources advice on matters including sick pay, redundancy entitlement, holidays and maternity leave – all included in the price.
As well as processing your payroll and PAYE our team are experts in Workplace Pensions (Auto Enrolment). They can advise on setting up schemes (working alongside 360 Wealth Management Ltd) and administer the scheme on your behalf – all for a fixed fee!
Getting payroll wrong can be very costly, and you can be liable to fines from several regulatory bodies if things aren’t done right. By outsourcing your payroll you can spend time focussing on what you do best – running your business – and we’ll take care of the rest.
Our pricing is transparent and our fees are fixed depending on the number of employees. Please visit www.5fourpayroll.co.uk for further information.