Outsource payroll and benefits - Payroll Accountants

Payroll processing is one of the most important challenges for any business, and one that no business owner can afford to get wrong.  While some businesses opt to handle the payroll function internally - through manual bookkeeping, in-house bookkeeping or payroll software - managing payroll services internally is increasingly time consuming as the business grows and also there are more chances of errors being made. Business owners have found that outsourcing payroll enables them to focus on processes and strategies that directly affect the future of their business.

Why outsource payroll processing?

Here are just some reasons to outsource payroll and benefits it brings:

Outsource payroll cost

Outsource payroll costs are normally less than the internal investment on employing staff, training costs, payroll software, computers, printers / printing, distributing payslips, creating tax documents, liaising with HMRC and other IT costs. If you compare this to the cost of a payroll service provider you will be surprised at the savings which can be made as it is much more cost-effective if you outsource payroll on a fixed fee package.

Resource

In-house payroll consumes a large proportion of staff resources in terms of both initial training and ongoing monthly payroll tasks. The benefit of outsourced payroll services and less resource requirements is that you may be able to reduce your staff size, or redistribute your current payroll staff on to more essential tasks.

Reliability

A benefit of outsourcing payroll is that, with an outsourced service, payroll is completed correctly on time, every time. Outsource your payroll and you won't have to worry about training new staff, losing payroll staff, or having delays caused by staff sickness or holidays.

Security

The crucial function of the payroll department coupled with the sensitive employee information involved means security is a key concern.  Your company and employee data will be available via myhaineswatts.com a secure locked down part of our website which will be safer than on your own computer due to the enhanced security measures we employ.

Accuracy

Avoidance of payroll mistakes which can be costly, de-motivate staff and lead to legal issues. A good payroll service provider is far less likely to make a serious error than your in-house staff, as you are paying them for their expertise, knowledge and finely-tuned checking procedures they have in place.

Auto enrolment

Our service also includes assistance with Auto Enrolment Pension reporting and correspondence compliance

Experience

Another benefit of a good payroll service provider is the experience they will bring to the business in terms of navigating tax laws and latest government legislation. There are types of employment which complicate payroll procedures and it pays to have a provider who can avoid any costly legal issues caused by errors.

Peace of mind

There’s a lot to be said for the peace of mind that outsourcing payroll services can bring to a business owner or manager. No headaches, no hassles, no stress, no worries: You’re left to focus on running your business knowing your payroll obligations are dealt with correctly, efficiently and lawfully.

Outsourcing your payroll to Haines Watts means that you have the time to concentrate on running your business, confident that you’ve got Payroll matters covered. Haines Watts Payroll services are here to help take all your future worries away.

Payroll Outsourcing - What do Haines Watts provide?

• Fixed fees.
• Real Time Information (RTI) PAYE filing.
• Email communication to employees including payslips.
• Easy to understand tailored reports.
• Preparation of end of year tax returns.
• Payroll cost analysis.
• Advice on all payroll related issues.
• Reporting to your Auto Enrolment pension provider.
• Assistance with Auto Enrolment correspondence.
• Fully bespoke service dependent on your needs.

Outsource payroll service in Hull

Payroll and the operation of PAYE can be difficult and time consuming for SMEs, LLPs and large corporations. If you would like to discuss the benefits of outsourcing your payroll please call 01482 598694 or get in touch with one of our chartered accountants in Hull via our online form.