Payroll Services in Nottingham
What is Payroll?
Payroll is the compensation a business must pay to its employees for a set period or on a given date. It is usually managed by the accounting or human resources department of a company. Small-business payrolls may be handled directly by the owner or an associate.
What is Payroll Outsourcing?
Like most jobs you don’t want to do, or can’t do, there are specialists who will take payroll off your hands. Payroll providers can do everything from calculating pay and deductions to transferring money into your employee’s account and filing associated taxes. Or they might just do part of the job, depending on what you need and what you can afford.
Why Outsource Payroll
Running payroll can be complicated and time-consuming. Plus there are a lot of legal requirements, which means there are serious risks to getting things wrong. For these reasons, many business owners prefer to leave it to the experts. It gives them more time and extra peace of mind.
In addition, payroll providers are often able to do your payroll at a relatively low cost as they use software to automate many of the tasks involved.
Benefits of Outsourcing Payroll
What are the Benefits of Outsourcing Payroll?
Save time & money
Outsourcing your payroll is a much cheaper option for managing your payroll needs. If you employ someone in-house to perform the task, this can take extra time and money. Using a company that specialises in payroll means it will take a much shorter amount of time to complete and will free up your staff to focus on other areas of the business.
Avoid penalties and mistakes
Payroll providers are specialists and can process even the most complex of payrolls accurately without mistakes. Payroll mistakes can be stressful and specialist providers will have the knowledge to ensure your taxes are filed correctly and on time.
Outsourcing payroll allows you to benefit from updated and improved software and automation, which if done in-house could add more costs to your business. This will also help to improve both the accuracy and timelessness of your payroll.
With an outsourced payroll service, output, speed and quality won’t vary in accordance with holidays and sickness. With in-house team members, there’s always a risk that you may lose staff that deal with your payroll and all their knowledge. If this happens it can be hard to replace them which can cause problems come payday.
Many payroll services can offer packages to fit around your individual business and payroll requirements. This ensures that you don’t end up paying for something that includes services that you don’t need or misses key features that you do need. They’ll also make sure you receive ongoing support for your employee wages and taxes.
Wages need to be submitted with the correct tax, pensions, national insurance contributions and other appropriate deductions such as student loans, so it is imperative that this is done correctly to avoid costly mistakes for both the company and employee.
How can Seagrave French help you?
How can Seagrave French help you?
Let us take the strain away from you and let you get on with running and growing the business. Payroll is complicated and has to be done on time and you as the employer are responsible for the mistakes.
We run payrolls on time and can provide a tailor-made service for your business including…
- Employee payslips;
- Monthly summaries;
- Departmental reports;
- Dealing with leavers and starters;
- Provision of analysis of staff costs;
- Real Time Information (RTI) PAYE returns for the Revenue;
- Assistance with automated payment set-up to your employees;
- CIS returns completed by us.
You will never have to worry about calculating statutory sick pay or maternity pay and dealing with student loan deductions ever again!
And at year-end…
- Employee summary P60s;
- P11D and P9D benefit and expenses returns.
Whatever your ambitions, we will commit to them wholeheartedly and deliver the premium service you deserve. Get in touch today to book a chat with the experts at Seagrave French.