Managed & Outsourced Payroll Solutions
Whatever the size of you company, outsourcing your payroll can save you time and money.
Our payroll experts are fully HMRC compliant, and can make sure that income tax, National Insurance, student loans, pensions and your employees are paid fully and on time.
Instead of your company having an in house payroll department, you can outsource your payroll responsibilities to another company that specialises in providing payroll services. The third party provider will manage every part of your payroll process, however for them to do this you will have to give them information about your employees, including the hours worked and the rate of pay for each pay period. All of the rest of the payroll process will be managed by the third party provider.
It is up to you how much of the payroll process you outsource to a third party, completely outsourcing the process will be inclusive of many of the functions, inclusive of the calculation of gross wages, setting up a payroll system, making any necessary subtractions inclusive of pension, student loan debts, taxes and national insurance. It will also ensure that you are compliant with tax and payroll regulations and these change over time. They will be able to print and send payslips, or email them if you prefer. They can make the deposit to your employees bank accounts, enter any and all payroll data, prepare and submit tax filings for your employees, and complete and file any other essential paperwork not listed, including the submission of RTI's (Real Time Information) to HMRC.
Benefits to outsourcing your payroll to a third party so that they can manage your payroll services are varied. You will immediately see a financial benefit, often payroll companies can save you money as you are no longer having to employ someone, or a team of people, to do the job. There are further savings to be made, including any licensing fees for payroll software, any supplies and equipment, for example perforation machines, ink and paper, printers, and you will not have to pay for the ongoing training and development of your payroll staff.
When you outsource your payroll to a third party payroll provider you will immediately see gains for you and your company in time and money. This will free your employees from the complex administrative duties involved in payroll allowing them to focus on the actual business.
There will be further benefits in terms of increased HMRC compliance, as you will be outsourcing to an HMRC compliant payroll provider and security. As a company it will no longer be your responsibility to keep abreast of any legislative changes in taxation or payroll, or worry about meeting deadlines, or ensure that you are compliant with any local, state or federal laws in payroll and taxation as this will be managed by a specialist payroll company. Moreover, as the payroll provider will be managing many accounts from different companies, they will ensure that they have state of the art encryption, firewalls and any other security devices to protect yours and their clients employees data. Ensuring that the risk of theft, security breaches or fraud is minimised and that any data remains confidential and secure.
However, even though you are getting a third party to process your companies payroll you will still have oversight and control of this process. You will have complete access and control over the process through reports, payroll software, and importantly access to you payroll manager who can answer any of your queries, or deal with nay queries from your employees.
Every type and size of business can benefit from managed payroll services. If you are a large company, and already employ your own in house payroll department, you will immediately see a saving, as you will no longer have to be paying wages or any benefits to a dedicated payroll team as this will be outsourced at a much cheaper rate.
If you are a medium or small company with 20 employees or less you will also see benefits from outsourcing your payroll to a third party. If you are a business owner who takes care of every aspect of your companies running you will also gain real value. To be compliant with payroll and tax regulations you need extensive experience and knowledge to ensure that you make no mistakes, as any mistakes made can be costly. If you do not have the experience or specialist knowledge there is a much higher chance of payroll errors being made which when dealing with HMRC can lead to large penalties and costly fines. However when you decide to outsource your payroll services, you will gain the expertise and and dedication of specialist payroll professionals. Moreover, and importantly, you make gains in terms of time saved, as the payroll process can be complex, lengthy and time consuming. This will allow you to focus more on the core of your organisation and growing your business.
Payroll can be time-consuming and complex. It is also one of the most important parts of your business. To minimise errors in payroll it can be good to outsource your payroll, ensuring accurate pay and compliance with HMRC regulations.
Often people decide to outsource their payroll as it cost and time efficient for their companies. It reduces errors as our experts have years of experience in payroll. If there are any payroll queries from your employees our experts can be on hand to answer them, removing the need for you to do it and reducing you costs as a company.
Our experts can remove the stress of Auto-Enrolling your employees into the Auto Enrollment pension scheme, keep on top of their national insurance and tax contributions, any repayments to the Student loans company and handle any expenses or benefits they may have received.
Whether your company employs 5 people, or 5,000 peopele, our experts are on hand to remove the hassles of payroll from you and your company, making payroll simple and easy for you, using their experts to minimise any payroll errors that can occur. If you would like more information on what we can do to help you please feel free to contact us.
We can provide support for your payroll, from fully managed payroll services to a bespoke service to support you and your employees. We can assist and provide fully managed payroll services, whether your business is large or small.
Nothing is more important to your employees than receiving their wages correctly on time, every time. Smoothly managed payroll services are essential for the happiness, and therefore productivity of you employees.
We offer a fully managed payroll service that includes auto enrollment in government pension schemes, as well as complete compliance with HMRC rules and guidelines. For many people having to deal with Pensions Automatic Enrollment, Real Time Information and HMRC can be demanding on their time and very stressful. By outsourcing to us we will take away all of the worry, and you can relax knowing that your employees will be paid correctly and on time.
All business in the UK that have employees need to have a payroll and will have to provide information to HMRC every time they pay their employees. The information needs to be provided to HMRC is called Real Time Information or RTI.
There is a minimum penalty fine of £100 for each missed RTI return, this will be payable to HMRC. Moreover, underpaid National Insurance and Tax will also gain interest. So any payroll error can become very costly for you and your business.
We understand that you need an excellent and reliable payroll provider to ensure no penalties are accrued and to make certain your employees are paid correctly every time, saving you a headache!
Our payroll experts work with you to create a bespoke payroll package which will support all of your payroll needs. Our experts fully understand all of the regulations and rules for payroll laid down by HMRC, and can ensure that you are compliant with all of them and so not face any penalties or fees.
If you decide to work work with us as your payroll provider we can help with:
It really is straightforward, when you choose us to become your payroll service providers we will completely manage your payroll for you. We just need some simple information from you and then we can set up your payroll services.
The information we will ask are things like, rates of pay, whether it is wages or salary, how often they are supposed to be paid. This we will ask you to provide on a short form, from there we can set up your companies payroll and completely manage it for you, removing any hassle.
Going forward all we will need from you is for you to inform us each pay day of how long each one of your employees has actually worked. We then figure out their pay, show any deductions for tax, National Insurance, or student loans, pensions, which can then be paid to HMRC or the Student Loans Company or their pension provider. It couldn't be easier.
All of this should remove the hassle of payroll for you, enabling you to free up time and focus on the other aspects of your company.
Why not fill out this form to get in contact with one of our payroll experts and they can talk through your options with you, and provide your company with a bespoke payroll service? We look forward to helping you with this.
Traditionally, managed payroll is where you outsource your payroll process to a third party payroll provider and they ensure that your employees are paid correctly on time.
They will also ensure that you are compliant with any local, state or federal regulations in taxation and payroll. They will make any necessary deductions, inclusive of tax, student loan repayments and pensions and pay your employees.
If you outsource your payroll to a third party they will also be able to deal with any inquires or queries your employees may have.
However, increasingly managed payroll has come to mean the use of technology to manage you payroll process, whether you outsource your payroll to a third party or manage it in house.
It varies upon the services you ask and the company that provides it. However in 2017 the prices for the basic package payroll services provided by companies ranged from £25 to £200 per month.
This price will be inclusive of online access for employees, tax filing, deduction for student loans and pensions and paycheck processing as well as depositing pay into employees bank accounts.
A wide variety of functions can be handled by a payroll company: inclusive of the monitoring of employee attendance, time and sickness, ensuring correct deductions are made inclusive of taxes and pensions, as well as setting up or making any changes to direct deposit accounts.
If you have been absent from work due to illness on full pay you will receive Occupational Sick Pay (OSP).
Occupational Sick Pay (OSP) is paid as a top up to SSP (Statutory Sick Pay) so that you are able to get full pay whilst absent due to illness which will fulfill your Terms and Conditions of Employment.
Your unique payroll number will be how your payroll department distinguish between individual employees.
This can be found by contacting your payroll department or it is usually on your payslip.
When you are setting up a new employee on your companies payroll system you will need to enter their RTI (Real Time Information) Pay ID.
This will get the employee reference for your company, which in turn you will submit to HMRC.
If your employee become ill and is unable to work, they may become eligible for SSP (Statutory Sick Pay) which is currently set at £92.05 per week for a maximum of 28 weeks.
However, your organisations sick pay scheme may offer more, it is illegal to offer less.
Company sick pay schemes are also refereed to 'occupational' or 'contractual' sick pay and must be included in the employment contract.
In the UK you must provide all employees with a wage slip. A payslip can also be referred to as an itemised pay statement in legal terms, and must be provided to your employees on or before each of their pay dates.
In the event that an employee is unable to access an electronic version of their pay slip, you must produce a hard copy for them.
If you have been off of work for more than four days in a row, inclusive of non-working days, and are too ill to work, you can get Statutory Sick Pay (SSP) which is paid at £92.50 by your employer for up to 28 weeks.
A payslip must show all of the variable deductions, inclusive of National Insurance, Tax, pension deductions and student loan repayments.
As of February 2018 your payslip must also display time worked and demonstrate that your pay is appropriate and complies with the legal set minimums.
As part of your contract of employment you are entitled to be paid on time.
Moreover, in the event that your employer is consistently late in paying you whilst you are employed by them, you can follow legal procedures to ensure your right to be paid is legally enforced.
In this event it is recommended you contact the citizens advice bureau.
In the event that you do not have a company sick pay scheme, your employer will still have to pay you Statutory Sick Pay (SSP), as long as you meet the requirements.
Your employer does not have to pay it for the first three days of illness, unless, within the last eight weeks you have been paid SSP and are eligible for it still. SSP is currently paid at £92.50 per week.