Payroll for small businesses
Don’t let payroll hassles slow you down. We can handle your payroll so you can focus on your business.
Tailored payroll services for small businesses
99% of UK companies are businesses with under 50 employees. That’s a staggering 5.5 million organisations.
For most of these businesses, especially those at the smaller end, having dedicated in-house payroll expertise is unlikely. So, who is left to handle payroll?
All too often, it is the business owner or director. It may be someone in the finance team or HR, but it is unlikely to be their core and only job.
The result is that this business-critical process becomes a burden. A burden to keep up with compliance and ensure staff are paid accurately and on time.
Perhaps it is time to consider outsourcing?
What are the benefits of small businesses outsourcing payroll?
Outsourcing may seem like an additional cost to your business, but the reality for a small business is that payroll is often a real burden, and the impact of that burden can have serious implications for the business health.
By outsourcing to an experienced payroll service, you can benefit in many ways;
- Save time - what could you or your team be doing instead of grappling with payroll?
- Improve accuracy and efficiency - avoid pay mistakes and tax errors that can seriously affect staff morale
- Improve compliance - we know what we are doing and understand payroll compliance and regulations inside out, so you don’t have to
- Improve efficiency - our systems and processes mean your payroll is implemented seamlessly and runs like a dream
- Peace of mind - this is the biggie. With payroll off your ‘to do list’ you can concentrate on running your business.
If you are a small business, talk to us about how we can help you relieve the hassle of running your payroll.
The costs of outsourcing versus in-house payroll
Outsourced payroll costs
There is no shying away from the fact that it costs to outsource your payroll, just as it does any other service.
But what is harder to work out is how this cost compares to running your payroll in-house.
Most outsourced payroll services have a ‘per payslip’ price, so you can multiply that cost by the number of employees you have to work out the cost. Just make sure you find out if there are any additional charges for set up or ongoing costs. Sometimes, what is included in this per payslip price isn’t as comprehensive as you may expect.
In-house payroll costs
You may think that the only costs for running your payroll in-house are the cost of the software and any staff you may employ. And, if you are a small business with no dedicated payroll person, payroll is usually tagged onto someone’s job.
But these aren’t the only costs, payroll mistakes can prove to be hugely expensive. Payroll errors are a major cause of low staff morale and ultimately employees leaving your business. And when that happens, there are a whole heap of costs.
If you are a small business and want to see how outsourcing your payroll could benefit you, contact us.
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