Outsourcing your Payroll
Payroll processing can be time-consuming and complex, however, it is key to keeping your business running. At Barrons, we offer a comprehensive payroll bureau service that enables you to outsource all payroll processing. If you’re unsure as to why you might choose to do this or what the benefits might be, we hope this article will help.
What does it mean to outsource your payroll?
Outsourcing your payroll means that you hand responsibility for processing your payroll to another firm that will ensure your employees are paid correctly, on time and in line with relevant legislation. A company that takes on the contract for processing your payroll will be specialists in this field with expert team members. A company just like Barrons Chartered Accountants. Over two-thirds of UK businesses outsource their payroll to an external provider and we are currently providing this service to companies of all sizes.
Many businesses struggle to cover this function in-house for a variety of reasons. It may be that the person who is responsible for payroll also has another role within the company which means they are being taken away from the day job to run the payroll when required. What if this person is away or off sick? Who steps in? Who in your firm can you trust to handle the sensitive nature of your employee’s pay and benefits? Ultimately, it is often business owners to whom the responsibility falls. When you transfer your payroll to a specialist firm, such as Barrons, you remove the internal burden from you and your team.
What are the benefits of outsourcing your payroll?
Saving Time and Money
Whilst it may seem like another expense to your business, the cost of outsourcing your payroll is often less than that of employing someone internally, depending on the size of your company. In almost every case we are able to prove that outsourcing is cheaper than just the cost of running a payroll software programme and annual maintenance! You’ll save money on the technology and software needed for payroll, as this will sit with your external partner. If the person who currently processes your payroll is combining this task with their main role, it also frees them up to focus on their main responsibilities.
Compliance and Accuracy
Making sure you meet the legal requirements of payroll operations is a complex task. By outsourcing your payroll to Barrons, you can have the peace of mind that you are fully compliant with the ever-changing HMRC rules and regulations. As specialists in this area, we are able to adapt to any changes and ensure that your business is fully compliant. When you hand over your payroll operations to a specialist provider, you also reduce the risk of errors which can cause staff dissatisfaction, compliance problems and even legal issues. We bring you a dedicated payroll team of highly experienced professionals, who are up to date on the latest legislations and are able to quickly adapt to changes.
With all payslips and annual reporting included within our fixed monthly costs, not to mention ensuring compliance with HMRC Real Time Initiative filing requirements, this really is one of the easiest outsourcing decisions that you will ever make!
Expertise and Confidentiality
Our team are able to advise on a range of matters relating to your payroll. As experts in our field, we help businesses of all sizes benefit from best practices and resources that you may not otherwise be aware of. Outsourcing your payroll also means that you can rely on processing happening regardless of any staff absences of heavy workloads. It also keep sensitive pay data confidential from company employees. Your data is treated with absolute confidentiality by our dedicated team who work in a designated area of our offices.
Focusing on your business
We believe that experts should always be allowed to do what they do best. By allowing our specialist payroll team to release you from the burden of processing payroll and complying with legislation, you’re able to put your energy into building your business and serving your customers.
Other payroll services we offer
Alongside payroll processing we also offer Pension Auto-Enrolment services, that is heavily driven by payroll.
Our services include the set up and management of auto-enrolment compliant pension schemes on your behalf. By allowing Barrons to manage your auto-enrolment pension you can be sure that you are fully compliant The Pension Regulator and your employer and employee contributions are invested in your pension scheme on a timely basis.
You can find out more by clicking on this link. Our Payroll Services
