Top 10 benefits of outsourcing your payroll

Talk to our team

25 June 2018

Services:

Outsourced Accounting,

Outsourced Payroll

The importance of payroll

Getting payroll matters right can be crucial. For example, the recent high profile tax tribunal ruling in the case of BBC presenter Christa Ackroyd highlighted the importance of the correct treatment of Paye as you Earn (PAYE).

Ackroyd was classed as self employed contractor and received her salary via her personal service company, circumventing Income Tax and National Insurance Contributions. However, the tribunal ruled that she was in fact an employee and thus liable to pay tax – resulting in a liability of over £419,000!

If your business has employees then one obligation that cannot be avoided is payroll. This not only includes processing the payroll, including accounting for PAYE, but also ensuring that you comply with auto enrolment and other requirements.

Business owners are increasingly choosing to outsource key businesses functions, allowing them to focus more on their business and what they are best at. Outsourcing payroll to a proven expert is a smart decision and makes very good business sense.

Here are our Top 10 benefits of outsourcing your payroll services:

1 Cost savings – it is much more cost-effective as we provide a fixed fee package

2 Increased productivity – payroll completion is time consuming, outsourcing frees up your time to focus on your business and what you do best

3 Reliability – payroll completed correctly on time every time

4 Speed – access to specialists so it is much quicker for us to complete via online cloud accounting solutions

5 Insight – we provide payroll cost analysis, tailored reports and keep you up to date with any new legislation

6 Communication – emails to your employees including secure payslips and correspondence

7 Security – the service is available via a secure locked down part of our website

8 Administration - Real Time Information (RTI) PAYE filing, preparation of end of year tax returns and other forms

9 Advice - bespoke advice on all related issues

10 Auto enrolment – our outsourced service also includes assistance with Auto Enrolment Pension reporting and correspondence compliance

Payroll Services Leeds

Our Leeds team use the latest cloud accounting technology to provide a cost-effective payroll service to businesses throughout the Yorkshire region.

If you are looking for an accountant in Leeds or need any support with your payroll please contact me on 0113 398 1100 or email at clpiatti@hwca.com to discuss further or arrange a meeting.